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Wage-Price Freeze #16792

ABC Evening News for Monday, Aug 23, 1971
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(Studio) Govt. allows 8% steel price increase made August 5th despite July 14th freeze deadline; Congressional Joint Economics Committee continues hearings on new economic policy.
REPORTER: Howard K. Smith

(DC) [Treasury Secretary John B. CONNALLY - says freeze should make Americans think about adverse effects of wage-price spiral; thinks some additional steps needed after 90 days; says government won't back down if labor creates confrontation over wage freeze.]
REPORTER: Sam Donaldson

(Studio) Texas Attorney General Crawford C. Martin says Texas must obey federal government; Texas Governor Preston E. Smith had vowed to grant pay raises despite freeze.
REPORTER: Howard K. Smith

Reporter(s):
Donaldson, Sam;
Smith, Howard K.
Duration:
00:02:40

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