The Economy: A Show of Confidence

Amid the pressing concerns of his first week in office, the President of the U.S. showed that the economy and its welfare are very much on his mind. Barely 30 hours after he was sworn in, Lyndon Johnson began meeting with his economic advisers, and three times during the week he conferred with Walter Heller, chairman of the Council of Economic Advisers. His speech before Congress bore down heavily on the economic policies endorsed by John Kennedy—the tax cut, the stability of the dollar, the expansion of foreign trade. To Christian Herter, the chief U.S. trade negotiator, he restated his...

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