Testimony Before the Subcommittee on Economic Stabilization Committee on Banking, Currency and Housing

by James C. Miller on December 17, 1976
by James C. Miller

Mr. Chairman, Members of the Subcommittee: We are privileged to appear before you today to discuss the important topic of government regulation. My name is William Lilley III, and I am Acting Director of the Council on Wage and Price Stability. Joining me today is James C. Miller III, Assistant Director of the Council, for Government Operations and Research.

As you know, the Council has a responsibility to monitor inflationary activity in the public sector as well as the private sector. Section 3(a) (1) of our Act directs us to –

review and analyze industrial capacity, demand, supply, and the effect of economic concentration and anticompetitive practices, and supply in various sectors of the economy, working with the industrial groups concerned and appropriate governmental agencies to encourage price restraint.

Section 3(a) (5) directs us to focus attention on the need to increase productivity in both the public and private sectors of the economy.

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