Inflation Curb
(N .Z.P.A.-Reuter—Copyright)
WASHINGTON, Sept. 9.
President Johnson yesterday announced a number of steps to combat inflation, including a big cut in all federal expenditures. He urged the Federal Reserve Board, an agency independent of the White House, and large commercial banks to lower interest rates and to ease what he called the inequitable burden of tight money.
Another of the steps—revealed at a press conference—was a request to Congress to suspend for 16 months the present 7 per cent tax credit which business receives for spending on plant and equipment expansion.
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Bibliographic details
Press, Volume CVI, Issue 31161, 10 September 1966, Page 16
Word Count
93Inflation Curb Press, Volume CVI, Issue 31161, 10 September 1966, Page 16
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