The Economy: A Persistent Fever

For all the medicine that the Government has prescribed, the nation's economy has not yet begun to shake its inflationary fever. Businessmen have a hearty appetite for expansion—and it is not likely to be spoiled by President Nixon's plans to drop the investment tax credit. The stock market remains steady despite such worries as the war, the balance of payments and the prospects of a pinch on profits. While complaining about high prices, the consumer keeps on buying.

Last week the Government announced that prices rose at a faster rate during March...