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Economy / Prime Rate #297730

CBS Evening News for Monday, Jun 25, 1984
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(Studio) Latest rise in prime interest rates reported.
REPORTER: Dan Rather

(NYC) Implications of rising prime rate for consumer examined; specifics considered. [ECON. - expects squeeze on profits.] [President REAGAN - blames fear of the future for high interest rates.] [ECON. - predicts higher interest rates; explains.] Impact on dollar's value in Europe discussed. [TOURIST - notes situation benefits him.] Impact on United States exports explained. For. debts owed US by countries such as Argentina and Brazil noted also linked to prime lending rate; details given.
REPORTER: Jane Bryant Quinn

(Studio) Rising interest rate's impact on business recovery discussed.
REPORTER: Dan Rather, Jane Bryant Quinn

(Studio) President Reagan noted blaming Federal Reserve Bd. for higher prime rate while others blame President's rising budget deficit; Treasury Department's report of last month's deficit mentioned.
REPORTER: Dan Rather

(Seattle, WA) Role of interest rate in election year pols. examined; scenes from "The Graduate" shown. Role of credit in United States economy discussed. [Reagan-Bush campaign spokesperson Drew LEWIS - thinks Reagan won in 1980 due to middle America's support.] [Econ. Alan GREENSPAN - feels President could lose election if economy scenario reminiscent of 1980 occurs.] Int. rate's impact on hsing. industry in general cited. [Summit Timber spokesperson Gary JONES - recalls lumber industry came to standstill when int. rates peaked in past.] [Summit spokesperson Jack DICKSON - fears closing mill if int. rates continue rising.] [Home builder Larry HILLIS - describes his industry's plight.] Impact of high interest rates on former Reagan supporters considered. Farmer Rick Bollinger, Reagan supporter in 1980, noted experiencing economy hardships. [Gallup Org. spokesperson Jay SCHMIEDESKAMP - questions President's acting ability in light of need to convince voters all is well economically.] European allies recalled recently criticizing President's economic policy as reflected in high interest rates. [June 7, 1984, REAGAN - thinks rates will drop.] [GREENSPAN - considers interest rates President's primary domestic problem.]
REPORTER: Bob Simon

Reporter(s):
Quinn, Jane Bryant;
Rather, Dan;
Simon, Bob
Duration:
00:07:40

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