Economic Stabilization Act, 1942
- Passed on 2 October 1942, the Economic Stabilization Act (sometimes known as the Antiinflation Act) was intended to control the cost of living. It increased the power of the Office of Price Administration to include rationing and gave the National War Labor Board power to control wages by limiting all increases to the 15 percent established in the “Little Steel” formula in 1942.
Historical Dictionary of the Roosevelt–Truman Era . Neil A. Wynn . 2015.
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