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Economy / Wage Increase Guidelines #227341

CBS Evening News for Monday, Feb 26, 1973
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(Studio) Admin. tries unsuccessfully to clarify position on wage increase guidelines under Phase III.
REPORTER: Walter Cronkite

(DC) Rumors were that AFL-CIO President George Meany had won concessions from Cost of Living Council head John Dunlop with regard to wage increase guidelines. Old guideline set wage increase ceiling at 5.5%. Today Dunlop and Treasury Secretary Shultz deny ceiling changed to 7% or more. [DUNLOP - says Phase II ceilings remain in effect.] [MEANY - says 5.5% standard has been changed.] [SHULTZ - says administration and Meany interpret Phase III same way.]
REPORTER: Robert Pierpoint

Cronkite, Walter;
Pierpoint, Robert

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