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Steel contract raise not worry inflation watchers
A 3 percent steelworkers contract covering 40,000 members is expected to lift steel prices modestly but not alarm inflation authorities. U S Steel’s J Bruce Johnston said costs must be covered, while union leader I W Abel called the pact not inflationary despite local rejection and later approval amid post election tensions. The Council on Wage and Price Stability will review the agreement, finding it in line with expectations.
MENTIONED IN THIS ARTICLE
Washington
J. Bruce Johnston
U.S. Steel Corp
Steelworkers Union
I.W. Abel
Council On Wage and Price
Jack A. Meyer
Abel
Arnold Weber
Carnegie-Mellon University
Pittsburgh
Federal Cost of Living Council
Meyer
Council On Wage and Price Stability