Stockman sees inflation at 7% by autumn of '82

Inflation in the United States could fall below 7 percent by fall of 1982, Budget Director David Stockman says. "If you look at the trends in the economy, inflation is cooling down and abating faster than we thought," he said in an interview on ABC's "Good Morning America."

"We now . . . think we can predict that by the fall of 1982, inflation will be cut in half, compared to the 13 percent rate that we had las t year," he said.