To the Congress of the United States:
In accordance with Section 5 of the Council on Wage and Price Stability Act, as amended, I hereby transmit to the Congress the thirteenth quarterly report of the Council on Wage and Price Stability. This report contains a description of the Council's activities during the fourth quarter of 1977 in monitoring both prices and wages in the private sector and various Federal government activities that may lead to higher costs and prices without creating commensurate benefits. It discusses Council reports, analyses, and filings before Federal regulatory agencies.
In August 1977 I asked the Council to undertake an in-depth study of the Nation's steel industry. The study was released in October and served as an important information base in the Administration's development of its reference price system for imports of foreign steel.
During the fourth quarter, the Council also issued, among other things, reports on interest rates and inflation, the lumber industry, 1978 model year auto prices, and a detailed analysis of the communications workers' settlement.
The Council on Wage and Price Stability will continue to play an important role in supplementing fiscal and monetary policies by calling public attention to wage and price developments or actions by the government that could be of concern to American consumers.
JIMMY CARTER
The White House,
April 7, 1978.
Note: The report is entitled "A Quarterly Report of the Council on Wage and Price Stability, With a Special Report on Inflation—April 1978, Executive Office of the President, Washington, D.C., No. 13" (Government Printing Office, 121 pages plus appendices).
Jimmy Carter, Council on Wage and Price Stability Message to the Congress Transmitting a Report. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/244985