Business: Splitting on Anti-Inflation Policy

Economic aides press Carter to act; political counselors fear loss of votes

Identifying the nation's most pressing economic trouble is the indispensable first step toward combating it—but in Washington, there is no guarantee that Step 1 will be followed by a Step 2 of any consequence. The Carter Administration now clearly recognizes that accelerating inflation is the biggest menace facing the economy. Yet action against it is being held up by a split between the President's closest advisers. On the one side are his economic counselors, led by Treasury Secretary W. Michael Blumenthal,...