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Inflation War Stans Says Rates Must Tread Lightly
Secretary Maurice Stans told a Los Angeles audience that the administration is winning the war on inflation but warned it will take at least a year for results. He defended gradual fiscal tightening, noted unemployment held steady, and urged wage restraint while avoiding large cuts in space and defense programs to prevent broader job losses. Later IAM and Aerospace Workers leaders accused the approach of being feeble, urging stronger action to halt inflation.
MENTIONED IN THIS ARTICLE
Maurice J. Stans
Los Angeles
Stans
Business Outlook
Los Angeles Area
Chamber of Commerce
Biltmore
International Association of Marchinists and Aerospace Workers
Robert R. Simpson
Seal Beach
IAM