Snuffling, sneezing and moist-eyed, the U.S. showed all the symptoms of a man with a nasty winter cold. The cold was inflation. Despite brave attempts just to bundle up a little more warmly and forget all about it, the U.S. had undoubtedly come down with something.
There was no denying the fever. Last week the chart of the nation's inflated economy spurted higher & higher. Wholesale prices reached a new postwar top (59.2% above the base year of 1926), after three weeks of record-breaking climb. For the second month in a row, average factory wages passed the $50-a-week mark, to...
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