The Economy: What the President Could Do

If inflation is not here already, it is just around the corner, and President Johnson had better take tougher steps to stop it soon. That, after months of debate, was the clear consensus expressed last week by both liberal and conservative economists. The Life In surance Association of America warned that inflationary pressures are boiling up; so did the American Bankers Association and the National Association of Manufacturers. Most significant, former members of the President's Council of Economic Advisers—men who are Democrats and Republicans, experimenters and classicists, Keynesians and non-Keynesians—agreed impressively...