THE ECONOMY: Is Inflation Whipped?

In White House executive offices and at the Treasury, Administration economists last week were quietly celebrating a victory that seemed too good to be true: by all accepted standards, the longstanding threat of inflation appeared to be whipped. Success in a series of key battles, the economists agreed, is winning the war against price upcreep. Ahead for the U.S.. said these prophets with only a pinch of caution, is a new era of steady growth and price stability.

Their confidence was based on the belief that, for the first time in a generation, U.S. fiscal (budget) and monetary (credit) policy...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!