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Economy / Carter Inflation Speech #255227

CBS Evening News for Wednesday, Oct 25, 1978
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(Studio) Reactions to President Carter's economy plan speech noted; decline of dollar on world money mkts. reported.
REPORTER: Walter Cronkite

(DC) Carter's tax rebate plan for workers accepting wage increases of no more than 7% explained. [CARTER - asks American people to give plan chance.] Possible flaws in economy program noted. [Standard Oil Company economist Theodore ECK - notes unaccountability of foreign oil prices.] [United Steel Workers Union spokesperson James BALANOFF - cites contg. price increases for everything.] [LTV Corporation chairperson Paul THAYER - says people will ignore voluntary program.] [Economist Alan GREENSPAN - notes potential for rip-off.]
REPORTER: Ray Brady

(Studio) Teamsters Union statement with regard to support of Carter plan reported; Carter appointed of Civil Aeronautics Board chairperson Alfred Kahn as chairperson of Council on Wage and Price Stability stated.
REPORTER: Walter Cronkite

(DC) Success of Kahn in achieving airline industry deregulation noted. [KAHN - states alternative to voluntary guidelines; says won't participate in transition to mandatory controls.]
REPORTER: Bob Schieffer

(Studio) White House statement with regard to receipt of questions on new plan detailed; cautious congress reaction noted; Republican chairperson Bill Brock statement with regard to political nature of plan reported.
REPORTER: Walter Cronkite

(Tulsa, Oklahoma) [Gerald FORD - says wage and price guidelines 1st step on path to mandatory controls; states Carter plan good political, poor economy]
REPORTER: No reporter given (KOTV tape)

Reporter(s):
Brady, Ray;
Cronkite, Walter;
Schieffer, Bob
Duration:
00:06:20

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