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(Studio) Admin. takes new action against inflation.
REPORTER: Howard K. Smith
(White House) Nixon meets with union and business representatives to discuss economy controls. AFL-CIO President George Meany, vacationing in Florida, sends Lane Kirkland to represent him. Secretary Treasury George Shultz explains new decisions reached. Big companies will now have to explain price changes made since January and will have to notify government 30 days in advance when they plan to increase prices more than 1 1/2% over January figures. Govt. can decide to stop proposed increase. [SHULTZ - says action tightens Phase III controls.] Labor feels moves won't help economy
REPORTER: Herbert Kaplow
- Kaplow, Herbert;
- Smith, Howard K.
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