The eyes of the U.S. last week turned anxiously toward Wall Street, where drama and despair marked the stock market's worst week's plunge since June, 1950.
The sad news on the Big Board did not mean that the U.S. economy was in bad trouble. But it did highlight a dilemma for the economy and the Kennedy Administration. As a keystone of his Administration, President Kennedy promised to do two things: increase economic growth and check inflation. The trouble is that while both aims are laudable in theory, they do not necessarily go together. In...
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