The Biggest Challenge

Searching for a new way to cut steep inflation and restore sound growth

Ronald Reagan's first two visits to Washington after his election were triumphal processions through a capital that marveled at his charm. His third tour of his new domain last week was more like a general's inspection of the troops he will shortly have to fling into a decisive battle. Preparations for the Inaugural gala were overshadowed by a series of warnings that the new Administration must begin moving almost immediately to meet what is clearly its biggest challenge: mending the...

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