CONTROLS: Phase III Shapes Up

ONE of the larger inconsistencies of Richard Nixon's decision to clamp wage and price controls on the U.S. economy 16 months ago was that he had originally opposed the legislation that authorized his move. Last week, in a step that brings the turn-around full circle, Administration officials announced that they will ask Congress for an extension of the law, which gives the President sweeping powers to "issue such orders and regulations as he may deem appropriate to stabilize prices, rents, wages and salaries," before it expires April 30. Nixon evidently plans to do some reshaping of the anti-inflation program...

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