As inflation zooms, the clamor for controls grows louder
Even on Wall Street, where bedlam often reigns and steel nerves are accustomed to roller-coaster financial markets, investors last week were reaching into their desks for bottles of Valium. As stock and bond prices plunged, limped forward and then dropped again, the nation's moneymen cast a solid vote of no confidence in Jimmy Carter's battle against inflation. Fearful that the President had abandoned the struggle with high prices at least until after this year's election, nervous brokers and bankers scrambled to protect their money from...
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