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Economists doubt wage price guidelines will work
AP. University of Pennsylvania economist Michael Wachter said the Carter administration’s wage price guidelines are unlikely to curb inflation because they clash with fiscal and monetary policy and fail to bolster the private economy. He warned the guides could mislead markets and damage credibility while the deficit grows and unemployment aims for 5 percent. The economy’s slowdown might blunt inflation in 1979.
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New York
Michael Wachter
Jimmy Carter
Wachter
Carter
Administration
Federal Reserve
University of Pennsylvania