Though no one predicted precisely the swift onset of today's business downturn, TIME'S Board of Economists was far ahead of most forecasters. As long ago as last February, a majority of the nine board members were warning that the Administration's restrictive anti-inflation strategy would bring on at least a mild recession, and their projections grew ever more dire as the year wore on. Last week most board members agreed that the Administration's switch to a more stimulative policy was a move in the right direction. But, with few exceptions, they are far...
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