U.S. Fears 'Runaway Inflation': Treasury Hints At Controls on Wages, ...
M. Kennedy declared yesterday that this country is on the brink ÛÏof a runaway inflationÛ that might require</br></br>KennedyÛªs dramatic wkrning on the specter of prie wage controls was cast of the few available a tives if Congress fails tend the 10 per cent ta|> charge.</br></br>It was delivered in thfc pres-Ûª ence of other senior Ad tration economic officia news conference follow meeting with the Advertising Council here.</br></br>The mention of controls appeared to be an escalation of the AdministrationÛªs effort to salvage the surtax, which Kennedy and other Administration officials admit is in trouble in Congress.</br></br>On Friday, for example, presidential counselor Arthur F. Burns said that devaluation of the dollar was among passible dire consequences of Congressional failure to go along with the surtax.