Economic Stabilization Act
/ˌɛkəˈnɑːmɪk ˌstæbɪlɪˈzeɪʃən ækt/
Definitions
- (n.) A U.S. federal law enacted in 1970 granting the President authority to stabilize prices, rents, wages, and salaries to control inflation during periods of national economic emergency.
The Economic Stabilization Act allowed the President to impose wage and price controls to curb inflation.
Forms
- economic stabilization act
- economic stabilization acts
Related terms
See also
Commentary
Often invoked during periods of economic crisis, the Act confers broad regulatory authority; drafters should specify scope and duration when referencing it in legislation or contracts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.