Business: Recovery Forecast: Not Yet

So says the Fed chief, as money costs climb and another slump looms

Most regrettably, the year is winding up as it began: interest rates are rising, the pace of price increases is accelerating, and a growing chorus of experts and officials is warning of a downturn dead ahead. The grim prospect is of an inflation-weakened economy struggling to recover from recession, only to be knocked flat all over again by tight money and high interest—a possibility that would make 1981 as big a policymaking headache for Ronald Reagan as 1980 has been for Jimmy...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!