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This clip is an excerpt from a much longer White House recording made on April 10, 1963. The prior year, President Kennedy attacked the steel industry for raising prices and forced a price rollback. See:
https://www.youtube.com/watch?v=aAVAJ6mwBVE
The president viewed steel prices as important for inflation generally and important to maintain the U.S. dollar exchange rate and gold price commitments under the Bretton Woods exchange rate system of that era. He had helped foster a modest union contract in steel in 1962 and viewed the price increase as a betrayal. However, the confrontation upset the business community and in 1963, the president was reluctant to have a repeat. In addition, the industry had learned not to announce a general price increase and instead to announce selective increases on particular steel products. Participants are JFK, Attorney General Robert F. Kennedy, and advisor Clark Clifford. Secretary of Labor W. Willard Wirtz is mentioned in the discussion and may have participated in part of it. Concern is expressed that if steel raised prices, the Steelworkers union would demand a pay increase and others unions would follow. Increased steel prices, directly and indirectly, were viewed as inflationary and threats to the U.S. balance of payments. This is Part 1.
https://sanghvienterprise.com/
An ISO 9001:2008 Certified Company, Sanghvi Enterprise (Steel Plates, Sheets and Coil Division) is a leading stockholder, supplier and exporter of ASTM A240 304/304L Stainless Steel Sheets.ASTM A240 304/304L Stainless Steel Sheets are cut to your specifications and supplied with complete set of mill test reports. Custom length and width up to 2000 mm can be made available. Exports is Our Specialtyand we can source many hard to find grades and or non-standards sizes to meet the special requirements of our customers.All ASTM A240 304/304L Stainless Steel Sheets can be cut to size with the help of our extensive expertise in processing steel plate products
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