Council on Wage and Price Stability Message Transmitting a Quarterly Report.

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 tenth quarterly report of the Council on Wage and Price Stability. This report contains a description of the Council activities during the first quarter of 1977 in monitoring both prices and wages in the private sector and various Federal Government activities that lead to higher costs and prices without creating commensurate benefits. It discusses in some detail the Council's studies of the outlook for collective bargaining negotiations for 1977, health care costs, automobiles, cement and the trends in industrial plant construction, as well as its filings before various Federal regulatory agencies.

During the remainder of 1977, 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,

October 11, 1977.