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Economy Summit / Reactions #236377

CBS Evening News for Friday, Sep 27, 1974
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(Studio) President Ford opens economy summit.
REPORTER: Roger Mudd

(DC) [FORD - admits battle against inflation won't be easy.] [Senator Mike MANSFIELD - states inflation is social dynamite.] Mansfield offers plan to heal economy, incling. reinstating wage, price controls. [Treasury Secretary William SIMON - charges wage, price controls unworkable.] [AFL-CIO George MEANY - states depression not solution to inflation problems but US econ. heading for depression.] Federal Reserve Bd. chairperson Arthur Burns recs. considerable criticism.
REPORTER: Nelson Benton

(Studio) Some economists and consumer advocates not pleased by Ford economy summit.
REPORTER: Roger Mudd

(DC) Critics charge consumers are forgotten victims of inflation. [Consumer advocate Betty FURNESS - believes consumers should have been incld. on some decision making at economy conf.] [Ralph NADER - says no department exists in Ford administration to advocate consumer interests.] At another mtg., group calling themselves radical economists believes summit is charade. [Prof. Leonard RAPPING - believes restructuring of economy system needed to beat inflation.]
REPORTER: Bernard Kalb

Benton, Nelson;
Kalb, Bernard;
Mudd, Roger

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