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Unfortunately, the anti-inflationary policy has got off to a stumbling start. In the first regulatory battle, over a proposal by the Occupational Safety and Health Administration to lower the level of cotton dust in mills?a proposal Carter's economic advisers considered too costly???the President gave in to the regulators. The Administration has won a few mostly symbolic pledges from some steel, aluminum-and automakers to limit price rises and executive salary increases. More dangerously, labor has refused to promise wage restraint. Meany calls Bosworth, a prune pleader for a wage hold-down, "that skinny redheaded...

Author: /time Magazine | Title: Inflation: Attacking Public Enemy No.1 | 7/17/1978 | See Source »

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