INFLATION: Candor and Consensus

Under mounting pressure to act quickly in dealing with the nation's economic woes, President Ford last week intensified his quest for bipartisan support to curb raging inflation. He took the unusual step of holding an all-day, televised meeting at the White House with 28 noted economists. The group, which included six members of TIME'S Board of Economists, ranged from self-proclaimed "New Socialist" John Kenneth Galbraith to Hard-Line Conservative Milton Friedman. Whatever their ideology, what the President wanted was their "unvarnished" views on what to do about the sputtering economy.

As expected, there were strong differences about what Administration policy should...

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