Message to the Congress Transmitting Quarterly Report of the Council on Wage and Price Stability.

To the Congress of the United States:

In accordance with section 5 of the Council on Wage and Price Stability Act, as amended, I am hereby transmitting to the Congress the second quarterly report of the Council on Wage and Price Stability. This report contains a description of the Council activities during the past few months in monitoring both wages and prices in the private sector and various Federal Government activities which lead to higher costs and prices. Additionally, it contains a discussion of wages and prices during the last quarter of 1974 and the outlook for 1975.

We are making good progress in winning the battle against inflation. The Council on Wage and Price Stability has helped to obtain the voluntary cooperation of labor and management in these efforts. The Council also is playing an important role in restraining any adverse economic impact of proposed Government actions.

GERALD R. FORD

The White House,

April 9, 1975.