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Money Matters: Stock Market / Prime Rate / Reagan-Cong. #313710

CBS Evening News for Thursday, Nov 05, 1987
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(Studio: Dan Rather) Report introduced.

(Studio: Ray Brady) Int. rate cut reported Major banks cutting prime rate credited for aiding stock market [Mortgage Bankers Association Warren LASKO - discusses lowering of rates.] Impact of rate cut upon economy noted. [Int. rate analyst James GRANT - discusses rate cut.] Lower rate causing US dollar to be devalued mentioned. [MAN - says recession is the last thing the government wants.] [GRANT - fears inflation.] People traveling abroad not having as much spending power asserted.

(London, England: Bill McLaughlin) Effects of lowering dollar abroad cited. [For. exchange dealer Trevor CASS - discusses need to reduce US budget deficit.] President Reagan being derided by British press mentioned; scenes shown. [Econ. Michael OSBORNE - Reagan needs to act firmly on the deficit problem.] [Chancellor of the Exchequer Nigel LAWSON - blames US for international market troubles at government dinner.] United States impact on world economy noted.

Brady, Ray;
McLaughlin, Bill;
Rather, Dan

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