No overnight cure for U.S. economy
[ NZPA-Reuter Washington i Several top economic fore-; [casters view Ronald Rea-[: gan’s election as the next? United States President with, [optimism, but say that he!’ will not be able to provide ; an overnight cure for thej’ nation’s rampant inflation : and weak economy. h Any success will take 1 [time, they and others say.’l ; adding that inflation could i actually accelerate before beginning any long-term des- j cent. < Lawrence Chimerine, who j heads Chase Econometrics 11 Associates, said yesterday T
That Mr Reagan’s landslide ■ victory "is not • going to [make any (short-term) difj ference” economically. “Inflation, particularly on the food and energy front, is not solved overnight. We [will have a lot of inflation [and a weak economy for a [while.”. Mr Chimerine’s firm still [ forecasts a 7.5 per cent} unemployment rate in 1982. “It will take time for Rea-1 gan to determine what to) do. To get it through Con-1 gress, to have it workj through the economy,” Mr Chimerine said.
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Press, 8 November 1980, Page 8
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167No overnight cure for U.S. economy Press, 8 November 1980, Page 8
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