Andrew F. Brimmer, Ford Visiting Professor of Business Administration and former member of the Federal Reserve Board, told an informal meeting of undergraduates at Quincy House last night that the "United States will experience its worst economic recession since World War II" during the next year.
Criticizing the Ford administration for being "frozen into a position against inflation" that will only ensure "further recession," Brimmer called for a "change in public policy" to meet rising levels of unemployment and the "human misery" it will create.
Expanded Public Service
To achieve this change Brimmer said the government should develop an expanded public service employment program and should ease current restrictions on credit and spending.
Brimmer supported his predictions by citing declines in consumer spending, investment, housing construction, and government spending, all of which he said are contributing to create "an increasingly severe and prolonged recession."
Read more in News
Fair Recruits Minorities
