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4 Percent Unemployment Acceptable Says Kennedy
Treasury Secretary Kennedy told a joint economic subcommittee that a 4 percent unemployment rate is acceptable to curb inflation but he would not reveal how high it could rise without altering anti inflation policy. He faced questions from Senators Symington and Proxmire who warned against relying on unemployment as a tool. Proxmire sought a trigger figure, Mayo spoke on manpower options, and administration aides proposed measures to maintain anti inflation pressure including tax changes and unemployment insurance steps.
MENTIONED IN THIS ARTICLE
Washington
Treasury
David Ken
Nixon
Tion
Kennedy
Joint
Congressional Economic
Nathaniel Goldfinger
Afl-Cio
Proxmire
Robert Mayo