"... In the remainder of this year output will be rising more rapidly, prices will be rising much less rapidly and the unemployment rate, while it will probably rise further, will not reach a very high point before it recedes."
With those words, President Nixon sought last week to reassure a nation that has been unnerved about the economy. In a message to Congress, the President predicted that real gross national product would be growing at an annual rate of 4% by the fourth quarter, and that the pace of price increases would slow to 7%. Although that would be...
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