Treasury Glum on Inflation: David Kennedy Calls Progress Very Slow ...
| In an off-the-record speech IÛªriday to the prestigious Business Council here Kennedy said progress through the Administration's fiscal and monetary programs was being achieved only ÛÏvery slowly.Û</br></br>Kennedy said he wished he could hold out the promise of ÛÏdramatic progress,Û but ÛÏunfortunately, the problems are well dug in, and progress will probably be achieved gradually.Û</br></br>KennedyÛªs remarks, as well as the text of an off-the record speech by Commerce Secretary Maurice H. Stans were released yesterday after report1 $rs complained to the office of the AdministrationÛªs communications director, Herbert Klein.</br></br>Treasury Secretary David j urgedThat the Administration M. Kennedy has given top suspend the 7 per cent-tax</br></br>He also strongly implied that the Administration would boost the 4Vi per cent Saw ings Bond rate, and would ease restrictions on capital in vestment abroad as soon ÛÏas circumstances will permit.Û But the "destructive force" of inflation dominated KennedyÛªs talk. He implied, as well, that attention to allevt ating poverty and assuring ÛÏevery citizen . . . equal opportunityÛ will have to take second priority to curbing in flation