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 seventeenth 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 1978 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 and the Council's role in the anti-inflation program.
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 and Government actions that could be of concern to American consumers.
The White House,
May 7, 1979.