News In Brief
Foreign-aid agency sees slowdown in US recovery
Recovery in the United States, the world's largest economy, will slow sharply in the second half of this year and be weaker in 1985 than forecast by the Reagan administration, the Organization for Economic Cooperation and Development has said.
The Paris-based secretariat of the 24-nation body, in its biannual economic outlook report released today, repeated its warning that the US economy remained vulnerable to high interest rates and a possible fall of the dollar on world currency markets.
Referring to administration policy, the report said: ''The present unbalanced mix of easy fiscal and tight monetary policies does not appear to be an auspicious starting point for the prolonged investment recovery which would be required for a period of sustained, low-inflation growth.''