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Economy / Inflation Program / Unemployment / Interest Rates / Dollar Values #255710

CBS Evening News for Friday, Nov 03, 1978
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(Studio) Admin. economy advisers' testimony on Carter inflation plan to Senator Banking Committee reported.
REPORTER: Walter Cronkite

(DC) Details of administration econs.' remarks to committee given. [Wage and Price Council director Barry BOSWORTH - thinks President had no choice but to act, as opposed to doing nothing about inflation.] [Chief economy adviser Chas. SCHULTZE - says there is chance of recession, but there always is risk. Calls continued escalation of inflation principal threat to plan.] Schultze's stated expectations for inflation in 1979, if there is moderate growth rate and widespread compliance with Carter's program, reported.
REPORTER: Marya McLaughlin

(Studio) October unemployment drop noted; figs. detailed, as reported by Labor Department predictions of both labor and business analysts that unemployment could climb in 1979 if economy slows down stated. Federal Reserve Bd.'s boost of discount rate earlier in week mentioned; resulting increase in banks' interest rates reported Raises by CitiBank, 1st Pennsylvania and others given. Dollar values against major European currencies cited.
REPORTER: Walter Cronkite

Cronkite, Walter;
McLaughlin, Marya

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