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(Studio: Peter Jennings) Report introduced.
(White House: Terry Moran) The reaction at the White House to Congressional testimony from Federal Reserve Board chairman Alan Greenspan about the economy and tax cuts featured. [GREENSPAN - says there has been a dramatic slowing down and a tax cut may do good.] [Republican Senator Phil GRAMM, Pete DOMENICI - asks questions about taxes and President Bush's plans.] [Senator Robert BYRD - reacts.] [BUSH - says tax relief is needed.]
(Studio: Peter Jennings; Capitol Hill: Linda Douglass) The likelihood that Congress will pass a tax cut this year discussed.
(New York: Betsy Stark) Concerns about the economy examined; details given of layoffs at JC Penney, AOL-Time Warner and Lucent Technologies and of the California electricity crisis. Examples of consumer spending detailed. [Carnival Cruises President Bob DICKINSON - cites record-breaking sales.] [BankOne chief economist Diane SWONK - cites job availability and actions by the Fed.]
- Douglass, Linda;
- Jennings, Peter;
- Moran, Terry;
- Stark, Betsy
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