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(Studio) Federal Reserve Bd. chairperson Arthur Burns doesn't totally agree with President contention that United States not in recession. Burns appears before joint economy committee
REPORTER: Harry Reasoner
(Capitol Hill) [BURNS - believes United States involved in unusual recession; details given.] Inflation bigger problem than recession, however. Burns unable to predict decrease in long-term interest rates. [BURNS - says investors must development confidence in anti-inflation programs of United States before interest rates drop.] Burns doesn't think Ford's economy proposals go far enough.
REPORTER: Sam Donaldson
- Donaldson, Sam;
- Reasoner, Harry
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