Bridge over ocean
1 July 1966 Financial Analysts Journal Volume 22, Issue 4

The Inflationary Impact of the Federal Budget

  1. Murray L. Weidenbaum

An article in a recent issue of the Journal of Finance states, “If fiscal policy is to be developed into a more precise art, if not a science, then it is crucial to be able to pinpoint more accurately the timing and the extent of impact of fiscal measures.”1

The purpose of this article is to point out that the present time provides an important example of the need to understand the timing of the economic impact of fiscal measures. Moreover, an improved understanding may, it will be argued, lead to the conclusion that the inflationary impact of the January 1966 Budget submission has been underestimated and that fiscal policy measures may need to be modified substantially.

Read the Complete Article in Financial Analysts Journal Financial Analysts Journal CFA Institute Member Content

We’re using cookies, but you can turn them off in Privacy Settings.  Otherwise, you are agreeing to our use of cookies.  Accepting cookies does not mean that we are collecting personal data. Learn more in our Privacy Policy.