The Economy: Phase II: The Nagging Uncertainty

IN the initial burst of exuberance that greeted President Nixon's economic package last August, the stock market roared ahead. Since then, doubt and confusion have set in. The basic question: Will Phase II really work? Though there is still considerable public support for the program, there are disturbing signs that consumers and businessmen are at least temporarily holding back their spending and investing.

Wall Street Worry. Last week in the stock market, the Dow Jones industrial average fell 23 points, to 852, wiping out most of the gain that followed Nixon's announcement of the...

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