High employment and price stability are two of this country’s foremost economic goals. In contrast to the early part of the 1960s when prices were relatively stable but unemployment was high, and the latter part of that decade when unemployment was low but inflation was rapid, the early 1970s have been marked both by high unemployment rates and by rapid inflation. Since the adoption by the Congress in 1946 of goals calling for the achievement of maximum purchasing power and full employment, the simultaneous realization of price stability and full employment has been rare.