“HEALTHY PERIOD OF DISINFLATION ”
EXPERT’S VIEWS ON U.S. ECONOMY WASHINGTON, February 18. The United States had entered a healthy period of “disinflation” that would not lead to a recession unless the public became jittery said Dr. Edwin G. Nourse, the President’s chief economic adviser, to-day. After discussing the economic outlook with President Truman, Dr. Nourse said he shared the President’s optimism, but he did not quite agree with his choice of words. [Mr Truman said yesterday that recent price drops had amounted to the levelling-off which everybody had been wanting.] “It gives a lot of people the idea that prices are going to be fairly stable,” said Dr. Nourse. “Instead of a smooth situation, I think we can look for a choppy situation, with both ups and downs. ’
He said he expected that when prices did stabilise, they would be at a lower level than at present, but higher than before the war. Dr. Nourse warned that if the public worked themselves into a jittery stage, the recent price adjustment might snowball into a recession.
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Press, Volume LXXXV, Issue 25734, 21 February 1949, Page 7
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175“HEALTHY PERIOD OF DISINFLATION ” Press, Volume LXXXV, Issue 25734, 21 February 1949, Page 7
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