The Reflections of a Policy

The most virulent inflation in peacetime American history has subsided during the 20 months that Ronald Reagan has been President, but the economy has also endured a severe recession and high rates of unemployment. The record of the Administration is thus a mixture of pluses and minuses. The main business indicators under Reaganomics:

Inflation. Runaway costs that were sapping the vitality of the economy now seem safely under control. The Labor Department reported last week that the Consumer Price Index rose at an annual rate of just 7.3% in July, and a mere 5.4% for the first seven months of 1982. Inflation...

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