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About: Emergency Price Control Act of 1942     Goto   Sponge   NotDistinct   Permalink

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The Emergency Price Control Act of 1942 is a United States statute imposing an economic intervention as restrictive measures to control inflationary spiraling and pricing elasticity of goods and services while providing economic efficiency to support the United States national defense and security. The Act of Congress established the Office of Price Administration (OPA) as a federal independent agency being officially created by Franklin D. Roosevelt on April 11, 1941.