Remarks By Michael H. Moskow Before the National Association of Manufacturers: Industrial Relations Council

by Michael H. Moscow on October 31, 1975
by Michael H. Moscow

Let me begin with our origins. The Council on Wage and Price Stability was set up in August 1974 at the request of President Ford. You will recall that at that time the Cost of Living Council had been out of business for 4 months and with it the system of wage and price controls that had been in force for most of the preceding three years. No one around Washington was particularly grieved to see the controls taken off. Still, the President felt, and Congress agreed, that it would be wise to retain some. Federal monitoring in the wage and price area. This was the role conceived for the Council… And how do we do it? Well, for a start, as I have indicated, we follow closely wage and price decisions in the private sector…That, then, in general terms, is what we do: We monitor potentially inflationary activity in the private and public sectors. Let me give you some specific examples…

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