Private Power Is Attacked by Weidenbaum
A "high Treasury Department' official said yesterday that the nation could not ÛÏsoonÛ arrive at the twin goals of full employment and lessened inflation without reducing the concentration of ÛÏprivate economic power.Û</br></br>Murray L. Weidenbaum, Assistant Secretary for Economic Policy did not define ÛÏprivate economic power.Û But he clearly was referring to powerful unions and companies who, according to some, can push wages and prices up without regard to actual' mar-åÈåÈj ket conditions.	jtlj</br></br>Weidenbaum labeled his evaluation of the current economic situation personaI.rpfllJirå£Il Without using the phrase ÛÏini vely heavy, comes policyÛÛÓwhich is now He said, the Treasury, like being debated again withinPrivate borrowers, is under the Nixon Administration-pressure to reduce short-term Weidenbaum called on ÛÏpartied ebtÛÓespecially	short-term ipants in wage-price decisions ebt under a yearÛÓthat has ... (to) more closely relater sen dramatically., wage and other cost increases ÛÏDespite the dramatic turna-to productivity growth thairaund from the fiscal 1968 def-they have been doing...Û iåÇ rit of $25 billion,Û Weiden: His remarks were made in staum said, ÛÏwe have, however, speech to the National Assoj ;en our annual refunding ciation of Regulatory Utility roblem (coupon securities) Commissioners in Las Vegasr se by about 50 per centj_ Nev. A text was released here* .om $14 billion of maturing</br></br>by,*he7rlaSUry-J.J i uldebt in 1968 to $22 billion in Weidenbaum did not elab<^69 and in m and to $23 mote ÛÏsensible" wSe mic Ire for 1972 already has $18& cos deciSs ag P hillion in it, with more in pros-But it is believed that hf ctÛ÷f we are obliged to issue</br></br>ods running from more pei i rst naif of 1971. sistent anti trust policies to i He predicted that the auc-re-examination of Government on technique for a coupon labor relations policies. 1:isue (Undertaken recently for Other areas that could com Iie first time in 35 years) within the scope of Weiderfnild become routine, making baumÛªs suggestion include e>:N easier to do more cash'fi-port-import policy: productio panting outside of the bills restrictions on agriculture Pfea (borrowings of a yearÛªs and barriers to entry intrduration or less), some professions,, notably In summary, Weidenbaum medicine,	put	the interest rate outlook The main part of Weider.tiis way: ÛÏI look to the long-baumÛªs speech was an exam er-run factors that may tend nation of (he outlook for, f t ) hold interest rates at rela-nancing and interest rates. H * vely high levels when viewed predicted that because^ c^i historical perspective. In enormous capital demands, e:;t)e shorter-run outlook, as the pecially for housing, pollutio Economy comes into better abatement, and by1 the utilitiesaiance> there should also be a industry, there may be better balance between the detendency for the demand f<and for and supply of capital to outrun the suppl indsÛ_