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Burns presses Nixon on wage and price controls
Arthur Burns urges a more activist anti inflation approach including possible compulsory arbitration of major labor contracts and a wage price review board while Nixon weighs steps already taken to roll back oil prices and oppose rising costs. Officials caution Burns may push but not define policy and the Fed could play a decisive role in currency and credit controls.
MENTIONED IN THIS ARTICLE
Washington
Arthur Burns
Nixon
Federal Reserve Board
Fed
Council of Economic Advisers
Burns
Los Angeles
White House