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Carter Inflation Plan Faces Skepticism and Fear of Controls
President Carter’s anticipated wage and price guidelines target 7 percent for wages and 5.75 percent for prices, with voluntary compliance. Critics warn the plan could pave the way to formal controls, aided by import restraints, as past voluntary efforts failed amid 8 percent inflation this year. Herbert Stein and AFL CIO chief George Meany voice opposition, stressing labor support is crucial to any anti inflation effort.
MENTIONED IN THIS ARTICLE
Carter
Herbert Stein
Richard Nixon
Council of Economic Advisers
Nixon
Wall Street Journal
Stein
George Meany
Afl-Cio