Word: wages
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Dates: during 1970-1979
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...call on state and local governments to do the same thing." All Carter's advisers agree that the President must scale down the federal pay raise if he is to have any hope of getting unions in the private sector to take his pleas for wage-price restraint seriously; federal workers are widely believed to be overfed and underworked. And the threat of escalating wage demands has become very real in the wake of the boost in pay and benefits-estimated as high as 39% over three years-that the White House swallowed as the price of ending...
...confession that many well-intentioned federal regulatory efforts contribute to inflation by raising industries' costs, and a pledge to change. Carter is considering several regulatory reforms suggested by Barry Bosworth, head of the Council on Wage and Price Stability (see box), including the opening of more federally owned timberland to cutting by private companies in order to increase the supplies of lumber and thereby hold down those prices...
...renewed plea to unions and industry to hold down wage-price boosts, at least implying more frequent and vigorous Administration jawboning of offenders. The Administration last week did score a preliminary jawboning victory. After President Carter himself and some other officials had denounced as inflationary an average $10.50-a-ton price increase by U.S. Steel, the company announced that it would peel back to be "competitive" with other steelmakers that raised prices only...
...looks ten years younger, and would seem quite at home shooting the breeze with some economics professor at a Harvard graduate seminar. That is a serious problem for Barry Bosworth, director of President Carter's Council on Wage and Price Stability (COWPS). Middle-aged business leaders take one look at him and wonder whether he is old enough for even a one-martini lunch. They need not worry. For one thing, Bosworth is a seasoned economist (a year on the staff of Lyndon Johnson's Council of Economic Advisers and six years with the Brookings Institution). More important...
Ever since it was set up by Gerald Ford in 1974, COWPS has been something of a no-account backwater in the Washington bureaucracy. Its role is limited by law to watching the wage and price activities of industry and the spending programs of Government. When either area shows signs of adding to inflation, COWPS can do little more than send a memo to the White House and hope that someone will read it. Under Bosworth, the council's formal powers remain negligible but the new director has infused COWPS with a sense of urgency it never had before...