Business: Rising Perils of Stage II

Wage-price policies baffle and bewilder labor and industry

"God-awful."

That was the pained reaction of Alfred Kahn, the Administration's chief price fighter, to the latest inflationary onslaughts. A month after President Carter mounted Stage II in his anti-inflation campaign, prices continue to rise and skepticism about the program's punch continues to spread. Trying to dispel some of the uncertainty, an unsmiling President declared on national television last week: "I think we will be successful in leveling off the rate of inflation and then bringing it down." But, he added, "I'm beginning to see more and more clearly how difficult it will be."

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