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Nixon outlines Phase 2 economic program and wage freeze
President Nixon unveils Phase 2 to curb inflation and stabilize prices with Taft Hartley measures, wage and price controls, and court orders to resume work. The plan aims to cut annual consumer price rises to 2 3 percent by 1972 with broad industry involvement and potential sanctions for noncompliance. The move follows a longshore and coal strike wave on the West and East Coasts, amid calls for stronger executive action. The Cost of Living Council leads wage price oversight as negotiators push for settlements. The package wins business support though some urge clearer guidelines.
MENTIONED IN THIS ARTICLE
New York
Nixon
Grai
Jongshoremien
Gulf
Mexico
San Fran
Cisco
Chicago
George Meany
Taft-Hartley
Afl-Cio
Meany
White House
Clement
Arthur F. Burns
Sec 1
Treasury
John B
Mini Connally
Arnold R. Weber
Cost of Living Council