CONTROLS: A Lingering Phase-Out

"There is still a lot of inflation ahead of us," said Herbert Stein, chairman of the President's Council of Economic Advisers. In current context, he rates as an optimist. The Labor Department reported last week that retail prices in October rose at an annual rate of 9.6%, almost triple the September pace, and Otto Eckstein, a member of TIME'S Board of Economists, warned that inflation in the next three to six months will be "unbelievably bad."

Hundreds of companies have been bombarding the Cost of Living Council with notices of their intention...

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