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7335869
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President Appoints Members of Council on Wage and Price Stability [Position Appointments and Resignations]
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7335869
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document
title
President Appoints Members of Council on Wage and Price Stability [Position Appointments and Resignations]
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White House Press Releases (Ford Administration)
Press Releases
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7335869
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29
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1974-08-29
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8
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1974
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Digitized from Box 1 of the White House Press Releases at the Gerald R. Ford Presidential Library
FOR IMMEDIATE RELEASE
AUGUST 29, 1974
Office of the White House Press Secretary
THE WHITE HOUSE
STATEMENT BY THE PRESIDENT
Last Saturday, when I signed the legislation creating a Council
on Wage and Price Stability, I said that Washington must provide
prompt and aggressive action in the fight against inflation.
Today I want to move forward in that fight by appointing the
members of the new council and asking them to begin work
as quickly as possible. I am asking Mr. Kenneth Rush,
my Counsellor for Economic Policy, to serve as chairman of
the council. I am also asking seven other members of the
Administration to serve as members of the group:
William Simon, Secretary of the Treasury
Earl Butz, Secretary of Agriculture
Frederick Dent, Secretary of Commerce
Peter Brennan, Secretary of Labor
Roy Ash, Director of the Office of Management and Budget
Virginia Knauer, Special Assistant to the President for
Consumer Affairs, and
Anne Armstrong, Counsellor to the President
In the near future, I also intend to set up an advisory committee
to the council, drawing upon the best talent we can find in labor
and industry.
One of my first acts as President was to ask that this council be
established. It is a tribute to the Congress that the necessary
legislation reached my desk in less than two weeks. That is the
kind of responsible leadership we can and must provide. Let me
re-emphasize, however, that the new wage and price council is not
a forerunner of new wage and price controls. Americans have
learned from experience that controls are not the answer to our
economic troubles.
In the next few weeks, as we engage in a series of economic summit
meetings here in Washington, I hope we can determine just what the
best answers are. But one thing is already clear: there will be no
instant miracles. This is an uphill struggle. We're all in it to-
gether. We must be tough with ourselves, we must be ready for
sacrifices, and we must be prepared to stick it out over the long haul.
But I am certain that if we work together and if we summon the same
courage and wisdom that built America, then we can lick inflation
and put our economic house in order.
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