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March 1974

The 1974 National Economic Plan: Riding Out the Storm

by Keith M. Carlson

The Administration recently presented to Congress and the public its national economic plan for the eighteen-month period ending June 30, 1975. The Administration’s plan is contained in three documents: the Federal Budget, the Economic Report of the President, and the Annual Report of the Council of Economic Advisers. Included in the economic plan are: (1) a proposed program for the Federal budget; (2) goals for gross national product (GNP), output, prices, and employment; and (3) recommendations for monetary actions by the Federal Reserve System.