Financial Community Disappointed
The financial community reacted with disappointment to President CarterÛªs inflation speech yesterday, but business leaders were more receptive to the presidentÛªs call for voluntary restraint among all sectors of the economy.</br></br>In the money markets, analysts said the president failed to address convincingly the major factors they feel are driving up price levels: the ballooning federal budget deficit and the growth of the nationÛªs money supply.</br></br>But business leaders, such as General Motors Corp. Chairman Thomas A. Murphy, expressed relief that the President continued to reject wage and price controls and commended the ÛÏpresident for his statement on this problem.Û</br></br>Murphy pledged that GM would ÛÏredouble our efforts in our budgeting and daily operations to exercise maximum discipline over our costs in</br></br>The PresidentÛªs programÛÓthe broad outlines of which have been rumored for weeksÛÓfailed to convince either