The Archives

1979

“Wall Street was hit by a selling panic last week as investors reacted to the new tight-money policies of the Federal Reserve,” Newsweek reported as interest rates were raised in an attempt to control inflation. How to go about battling inflation has been an ongoing debate in America. Prices on consumer goods have spiked recently—with the Consumer Price Index up 5.3 percent in the last 12 months—and some contend that the higher inflation rates are only temporary. However, as the Delta variant threatens more possible shutdowns, the economy’s recovery for the upcoming year is still up in the air.