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Economy / Minimum Wage Hike / Bus. Confidence #248952

CBS Evening News for Friday, Oct 14, 1977
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(Studio) Congress conference committee agrees on details of minister wage hikes, to begin in 1978. Details noted. Mbrs. of Bus. Council predict economy will grow only enough next year to keep unemployment from getting worse; is because, they say, President Carter hasn't given busmen. confidence by not citing consistent economy plan.
REPORTER: Walter Cronkite

(New York City) Report on effect of pessimism in business world on stock market Dow-Jones Ind. Av. drop this year noted. Many in stock market say it's because economy policies of Carter and advisers have turned off everyone. [Drexel, Burnham and Lambert, Incorporated spokesperson I.W. BURNHAM, II - says administration policies haven't pleased minorities or labor and are confusing to business] Bus. also fears government will, in efforts to cut inflation, cut money supply too sharply, slowing business down sharply. What happens on stock exchange affects entire country
REPORTER: Ray Brady

Reporter(s):
Brady, Ray;
Cronkite, Walter
Duration:
00:02:20

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