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(Studio) Admin. launches attack on high food prices, especially price gouging. Agriculture Department report shows raw farm prices at 4% increase Treasury Secretary William Simon speaks on this.
REPORTER: Walter Cronkite
(DC) Simon orders public hearings on rising sugar prices. Calls for full ind. report with regard to sagging farm prices and higher grocery bills. [SIMON - says spread between farm and retail prices expected to increases 21%. Cannot permit 1 point of economy to be enriched at expense of others.] He predicts reduction in foreign oil prices. Feels econs. will say United States in recession.
REPORTER: Nelson Benton
- Benton, Nelson;
- Cronkite, Walter
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