INFLATION: The Shocking Rise in Prices

LKE Banquo's ghost, inflation continues to haunt the nation—and the Nixon Administration. Frightened by that specter, housewives are organizing a nationwide boycott of meat counters, union chieftains are threatening to press for fat wage raises, and Congressmen are calling for a return to the stringent controls that existed until January. From the very moment that President Nixon loosened those controls, Democratic politicians and economists warned that Phase Ill's anti-inflation forces were simply too weak. Last week, when results of the first full month of Phase III were reported in Washington, their predictions turned out to be disturbingly accurate. In...

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