Leaving the White House following his final visit with President Truman prior to ending his services as Director of the Office of Economic Stabilization, Chester Bowles waves to reporters and photographers. From: Beth Gore.
Chester Bowles, newly designated head of the Office of Economic Stabilization, warned Congress that the nation's economic system would be smashed "beyond hope of repair unless it extends price controls to keep the lid on the present inflationary dynamite." He urged the House Banking Committee to approve speedily a pending bill to continue the controls a year after the present June 30 expiration date. From: Beth Gore.