The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.
What a big year 1971 was. Here, we break down the 50th anniversaries of some of the biggest health initiatives, some serious industry game-changers, and more.
Thursday on Political Rewind: Los Angeles in the early 1970s was a glittering confluence of creative genius, which transformed American society as we know it. Journalist and cultural historian Ronald Brownstein documents this lively history in his new book, Rock Me on the Water: 1974 — The Year Los Angeles Transformed Movies, Music, Television, and Politics.
We speak with Brownstein about how 1974 would change the face of popular culture forever — and create works far ahead of the political status quo of the time.
Prices are jumping as the economy rebounds from the pandemic, but the Biden Administration and the Federal Reserve say a return to 1970s-style inflation is unlikely.