POLICY: Oldtime Religion v. Inflation

In still another clear bid for conservative support, President Nixon last week took to nationwide television to defend his Administration's economic policies. The message was that the White House has no intention of taking any important new action despite rampant inflation and declining production. Nixon told a warmly sympathetic gathering of four California businessmen's groups in Los Angeles that the Administration would continue on its present course of "steadiness" and "would respect the basic laws of the marketplace." He again rejected any return to wage-price guide lines or controls and said...

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