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Economy News #236914

CBS Evening News for Thursday, Jan 30, 1975
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(Studio) Chase Manhattan Bank lowers prime lending rate to 9%. Federal Reserve Bd. chairperson Arthur Burns endorses short-term tax relief when he appears before House Ways, Means Committee
REPORTER: Walter Cronkite

(DC) Burns tells committee Federal Reserve system to expand money supply at moderate rate. Burns reassures members with regard to President' large budget deficit request.
REPORTER: George Herman

(Studio) President proposes boosting economy through early payment of $335 million of GI insurance dividends to veterans. President also asks Congress to cut fed. spending by $1 billion in over 35 areas. House Agriculture Committee doesn't want cost of food stamps to be incrd.; panel votes to freeze cost.
REPORTER: Walter Cronkite

(DC) [Representative Thomas E. FOLEY - says Congress concerned about poor and elderly. Expects House and Senator to vote down incrd. costs for food stamps.] House Agriculture Committee's ranking Republican William Wampler also supports freeze legislature
REPORTER: Neil Strawser

Cronkite, Walter;
Herman, George;
Strawser, Neil

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