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Oral history transcript, Hugh Gardner Ackley, interview 2 (II), 3/7/1974, by Joe B. Frantz (Item)
  • to step into the breach with tight money and really slowed the economy down consid­ erably; so much so that 1967 became the year of the famous "mini­ recession. II By that time, we had persuaded the President to propose a tax increase