In the mid-70’s, with rising prices wreaking havoc on the economy, President Gerald Ford urged us to “Whip Inflation Now.” Prior to that, Richard Nixon instigated Wage and Price Control in an effort to stem the raging tide of inflation. Today, experts tell us we’re headed out of our two-year recession. Unemployment is down, consumer spending is up – but so are prices, and we’re feeling the crunch, at the gas pump and the supermarket. Are we looking at another bout with runaway inflation? Is it time to whip out those old “WIN” buttons? The head of San Francisco’s Federal Reserve Bank has some reassuring projections – but he’ll also give a hint of the Fed’s “exit strategy” should inflation once again hit double digits. Will it be too little, too late? And how will fears about the economy affect Obama’s chances at the polls next year?
Town Hall Speaker:
Dr. John C. Williams, President and CEO, Federal Reserve Bank of San Francisco
Town Hall Vault Speaker:
Dr. William Ford, President, Federal Reserve Bank of Atlanta (1980)
Nina Easton, Washington Columnist for Fortune Magazine