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Economy / Prime Interest Rate Increase #292664

CBS Evening News for Monday, Aug 08, 1983
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(Studio) Expected rise in prime interest rate reported Treasury Secretary Don. Regan's remarks with regard to relationship between federal deficits and interest rates noted. STK. MKT. REPORT
REPORTER: Dan Rather

(NYC) Effect of interest rate increase on recovery outlined. [Citibank spokesperson Leif OLSEN - explains why increase took place.] New York City banks involved in increase noted to be Citibank, Chase Manhattan, Chemical, Bankers Trust; in Chicago, First National; in Pittsburgh, Mellon Bank. Possible effect on housing cited. [Atlanta developer John WIELAND - questions whether housing can stay in recovery period.] [Chicago resident Susan PARDISO - discusses feelings with regard to possible home purchase.] Concern on Wall Street described; drop in Dow Jones Inds. stated. [Econ. Alan GREENSPAN - predicts effect of interest rates on recovery.]
REPORTER: Ray Brady

(Studio) Federal Home Loan Bank Bd. report with regard to mortgage rates cited. United States dollar costs against German mark, French franc and Japanese yen noted.
REPORTER: Dan Rather

Reporter(s):
Brady, Ray;
Rather, Dan
Duration:
00:04:40

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