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Inflation / Bankers' Meeting #204878

CBS Evening News for Monday, Jul 07, 1969
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(Studio) Financial officials and top bankers meet to discuss inflation.
REPORTER: Harry Reasoner

(DC) Admin. asks bankers from 25 banks to hold down prime interest rates and to ration credit to borrowers. Secretary Treasury David Kennedy says meeting successful. Senator starts work on income tax surcharge. Bill support could be eroded if interest rate goes up. Admin. talks of program to fight inflation by fiscal and monetary controls. Peek given of next year's budget. Kennedy says raising interest not effective way of easing pressure on credit. Federal Reserve Bd. Chairperson, William McC. Martin says no crackdown on banks. Assistant Attorney General Richard McLaren in charge of antitrust, there; looks into interest rates.
REPORTER: Daniel Schorr

Reasoner, Harry;
Schorr, Daniel

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