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Hi everyone, Today is 20th Jan and you know what happened on that day,U.S. 1958 U.S.A. Wage Increases 20th January, 1958 : As President of the United States, Eisenhower had spoke out against excessive wage and price increases on this day. For instance, he proposed that businesses should avoid unjustified price increases.
In other words, Eisenhower, opposed price hikes except in the case of increased business costs (i.e. cost of manufacturing or supplies). The president also opposed wage increases that surpass an employee’s actually productivity level, and explained that actions such as this could lead to excess inflation (cost of living increases).
In addition, Eisenhower declared that the government should abide by policies that would “foster growth”. For instance, he mentioned that the government should engage in “proper management of credit policy by the federal reserve board” .
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