#OTD20 | October 14, 1946
October 14, 1946: President Harry S. Truman announces the lifting of price controls on meat, reflecting post-war economic adjustments.
Enforced during World War II to stabilize the economy, price controls curtailed inflation by setting maximum prices for goods. But, post-war America saw meat shortages and black-market operations flourish as the demand surged.
With public dissatisfaction growing, Truman's decision aims to encourage livestock production and stabilize the market. Though critics argue it might lead to inflation, many Americans welcome the move as it promises more meat in local butcher shops.
This decision signifies a broader shift from a wartime to a peacetime economy, setting the stage for the economic boom of the 1950s.
The transition from the wartime to peacetime economy is explored in our award-winning video survey, "Post-War Years," from AMERICA IN THE 20th CENTURY.
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