For almost two years the economy has
been stumbling on a rocky path marked by
soaring inflation, record-high interest rates
and a constant specter of fuel shortages. During
this period the Midwest, which includes
the Seventh Federal Reserve District, has
shouldered a disproportionate share of the
trouble. Primarily, this reflects reduced demand
for the products of some of the dominant
industries in this region — cars and trucks,
construction equipment, agricultural equipment,
recreational vehicles and home appliances.
Residential construction also has
been much more seriously depressed here
than nationally, partly because of slower
growth of population.