CBS Evening News for Wednesday, Jul 20, 1983
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(NYC) Personal income and spending rates for nation last month and implications for consumer confidence discussed.
REPORTER: Dan Rather
(DC) Federal Reserve Bd. chairperson Paul Volcker said implying that interest rates will not rise. [VOLCKER - anticipates declining interest rates.] Impact on Wall Street noted; STK. MKT. REPORT [Economics Editor YARDENI - describes market response.] Probable impact of stable interest rates on housing market examined. [Harry OSOFF - is optimistic over buying home.] His fiance mentioned, shown. Impact of improved United States interest rates on foreign debts of Mexico and Brazil outlined on screen, discussed. [VOLCKER - doesn't project overnight remedy.]
REPORTER: Ray Brady
(DC) Eva Luna's loss of home in 1980 due to cosigning son's loan recalled. [LUNA - recalls ordeal.] New FTC (Federal Trade Commission) regulations preventing creditors from exploiting or tricking debtors examined; details outlined on screen, discussed. [FTC chairperson James MILLER - remains concerned about new regulations' impact on those seeking loans.] Basis of critics' concern over new FTC (Federal Trade Commission) rule outlined.
REPORTER: Susan Spencer