AFTER a relatively strong showing in the first three months of this year, the U.S. economy sailed into the second quarter under a rainbow of brightening statisticsand several ominous clouds. Chances for a rapid return to full, noninflationary prosperity remain remote. And the potential for trouble ahead, notably in the critical areas of jobs and prices, gives Richard Nixon scant room for comfort in an election year. Yet there is compelling evidence that the economy is making sturdy progress toward recovery, and is likely to gain speed in the months ahead. Says Arthur Okun, a member of TIME'S Board...
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