“ Inflation too often follows in the shadow of growth—while price stability is made easy by stagnation or controls. ”
John F. Kennedy, State of the Union Address (11 January 1962). copy citation
| Author | John F. Kennedy |
|---|---|
| Source | State of the Union Address |
| Topic | growth price |
| Date | 11 January 1962 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/5041/5041-h/5041-h.htm#2 |
Context
“Last year, 1961, despite rising production and demand, consumer prices held almost steady—and wholesale prices declined. This is the best record of overall price stability of any comparable period of recovery since the end of World War II.
Inflation too often follows in the shadow of growth—while price stability is made easy by stagnation or controls. But we mean to maintain both stability and growth in a climate of freedom.
Our first line of defense against inflation is the good sense and public spirit of business and labor—keeping their total increases in wages and profits in step with productivity.”
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