Remarks of Alfred E. Kahn to the Economic Club of Chicago

by Alfred Kahn on March 13, 1979
by Alfred Kahn

I’m here today to bring you some bad news . First, you are on the spot. You have a heavy responsibility to help us bring under control the inflation that is afflicting all of us, without necessitating so hard a jamming of the monetary and fiscal brakes as would plunge us into a serious recession, or putting the American economy in the straightjacket of comprehensive mandatory wage and price controls. I’m sure it will already have occurred to you that I have at least the economics upside down — and probably the politics, too. Let’s hold off on the economics for awhile. Surely, you will be thinking, it’s President Carter’s neck that’s on the line — and possibly Fred Kahn’s — not yours.

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