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Economy Report / Unemployment / Wage Price Controls #30049

ABC Evening News for Friday, Feb 01, 1974
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(Studio) Unemployment rises to 5.2% in January; energy crisis held partially responsible. AFL-CIO president George Meany criticizes President' economy policies; Senator William Proxmire believes recession at hand. Cost of Living Council lifts wage, price controls on 25% of nation's retail sales. Council director John Dunlop says large corps. agree to voluntarily hold down price increases President sends economy report to Congress
REPORTER: Harry Reasoner

(White House) Inflation must be reduced. [Econ. adviser Herbert STEIN - says fight against inflation to take precedent over unemployment.] Stein's strategy for dealing with inflation reviewed. Strategy may not work; reasons given.
REPORTER: Tom Jarriel

Jarriel, Tom;
Reasoner, Harry

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