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(Studio) Joint statement by Treasury Department and Federal Reserve Board of intention to intervene on international money mkts. in order to halt devaluation of United States dollar detailed.
REPORTER: Roger Mudd
(NYC) Effects of dollar devaluation on Wall Street outlined. Dow Jones av. drop in 1st days of 1978 cited. [Econ. Gary SCHILLING - calls devaluation vote of no confidence for country and this is why business is wary.] Fears of Wall Street brokers described. Bus. uncertainty with regard to Fed. Reserve Board chairperson-elect William Miller noted. [SCHILLING - outlines concerns with regard to Miller.]
REPORTER: Ray Brady
- Brady, Ray;
- Mudd, Roger
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