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Burns Inflation Crusade Seen As Spur To Nixon
Washington AP reports Arthur Burns unveiled an aggressive anti inflation plan aimed at pushing Nixon toward a more activist wage and price strategy. He urged compulsory arbitration of large labor contracts and a wage price review board, signaling a broader incomes policy beyond fiscal and monetary tools. Officials questioned policy shifts but noted Nixon has already moved to curb oil price hikes and intercede in construction wage talks. The Fed and CE A insiders cautioned Burns may not alter policy, yet his stance pressures the administration amid persistent inflation and high unemployment.
MENTIONED IN THIS ARTICLE
Washington
Arthur F. Burns
Nixon
Federal Reserve Board
Burns
Fed
Council of Economic Advisers
Los Angeles
White House
Paul W. McCracken
McCracken