Word: aluminumâ
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Dates: during 1970-1970
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...there is evidence that guidelines and "jawboning" intervention by the White House held down some prices during the Kennedy-Johnson era. Arthur Okun, a member of TIME'S board, figures that prices rose 1.7% a year between 1966 and 1968 for 15 jawboned industries, including steel, copper, autos and aluminum???but that prices jumped 6% in those industries in Nixon's first year. When Nixon made the mistake of proclaiming at the start of his presidency that he would do no jawboning, businessmen and labor leaders took his announcement as a signal to go for all the increases they could...
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