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Steel Industry / Price Hike / Carter / Ford Administration #243622

CBS Evening News for Tuesday, Nov 30, 1976
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(Studio) Incr. in steel prices has economy and political impact. Ford administration questions reason for increase and reasons for timing of it. Indications are steel industry may reconsider increase in prices.
REPORTER: Walter Cronkite

(DC) President Ford will hear report Wednesday from Council on Wage and Price Stability; report expected to say there's no justification for proposed incr. in steel prices. Admin. questions reason for hike now; some say it's because steel industry wants to get higher prices on books in case Carter administration puts wage and price controls into effect.
REPORTER: Phil Jones

(Studio) In interview with Carter Monday, Carter said he'd let industry know of concern with regard to situation but response had been noncommittal. Today Jones and Laughlin Steel Company president Thomas Graham sends Carter telegram offering to come to Plains, Georgia, with other steel execs. to talk with regard to situation. In Dallas, Texas, interview Graham is asked how he'd react to Carter request for delay. (Film shown.) [GRAHAM - says he'd consider any reasonable request, but feels industry's case for increase is strong. Comments on charges that price hike is inflationary.] Carter reaction comes from press secretary Jody Powell.
REPORTER: Walter Cronkite

(Plains, Georgia) [POWELL - says Carter's opinion on situation has been made known and other than this, there's not much President-elect can really do. Says neither he nor Carter is in position to say if meeting with steel industry representatives would do any good.] Carter will meet Wednesday with 16 economy experts, among whom will be candidates for various economy positions on Carter staff, include former Labor Secretary John Dunlop, former president economy advisers Walter Heller and Arthur Okun and Congress Budget Office director Alice Rivlin.
REPORTER: Bruce Hall

Reporter(s):
Cronkite, Walter;
Hall, Bruce;
Jones, Phil
Duration:
00:05:10

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