CBS Evening News for Wednesday, Feb 20, 1985
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(Studio) Federal Reserve Bd. chairperson Paul Volcker's warning of consequences of continued record federal deficit outlined, quoted. His remarks as well on US dollar's overseas value noted.
REPORTER: Dan Rather
(London, England) Dollar's continued record highs in Europe and implications for United States economy examined. [Voice of BBC (British Broadcasting Corporation) Radio ANNOUNCER - cites Volcker's call for deficit reduction.] [VOLCKER - notes strong dollar is financing budget.] Historical role for United States as debtor nation explained, discussed. [Econ. Roger KUBARYCH - predicts debt ratios in United States similar to those in Latin America preceding region's debt crisis.] [Courtauld's Pension Fund spokesperson Matthew OAKESHOTT - claims foreign investors in United States money market are financing United States government] Factors encouraging international investment in United States dollar outlined. [OAKESHOTT - anticipates disaster.] [Econ. Paul NEILD - notes dichotomy in United States pride in its self-sufficiency in all areas except. econ.] [Voice of BBC (British Broadcasting Corporation) Radio ANNOUNCER - describes current strength or weakness of various currencies.]
REPORTER: Tom Fenton
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