Price-Wage Restraints in National Emergencies

Archive Report

Inaflationary force in the economy

The threat that another round of inflation will be set off by current business expansion and by government spending to meet the world crisis has made the Kennedy administration acutely aware of the need to take precautionary action. The President recently made an unusual appeal to steel industry leaders to hold down prices, and he promised to urge equal restraint on steel labor leaders next spring when a new wage contract is to be negotiated. When Kennedy addressed the nation on the Berlin crisis last July 25, moreover, he said he would ask Congress in January for any increase in taxes needed to balance the budget in the fiscal year 1963. Although the President seemed to soften that stand at ...

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