Experts are bufuddled and borrowers are battered

Everywhere President Reagan goes, people ask him the same question: Why are interest rates so high? A recent visit to an eighth-grade civics class at St. Peter's School in Geneva, Ill., was no exception. Sitting on the edge of the teacher's desk, next to the world globe, Ronald Reagan patiently explained that interest rates are still steep because the financial markets expect Government policies to spark a renewal of rapid inflation. "We're trying to convince them that isn't so," said the President. "And I think pretty soon,...

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