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This edition: Inflation





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Episode Details

In the 1960s President Lyndon Baines Johnson continued fueling the domestic agenda of his “Great Society,” keeping a low profile on the Vietnam War. But the U.S. overspent and inflation bubbled over. Anyone living on a marginally fixed income endured harsh consequences under inflation, and workers’ strikes only brought costs up more. After his election in 1972, Richard Nixon ordered a 90-day nationwide price and wage freeze after the Federal Reserve failed to curb inflation. These stories show problems posed by the development of inflation in the post-war U.S. economy.