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Economy: Prime Rate, Stock Market #321125

CBS Evening News for Wednesday, May 11, 1988
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(Studio: Charles Kuralt) Major banks reported raising prime rate; details given, incr. illustration Report introduced.

(Studio: Ray Brady) Impact of rate increase featured. Stk. Mkt. Report [Stk. market analyst Michael METZ - comments on situation.] Federal Reserve Bd.'s actions discussed. [METZ - says inflationary pressures rising.] Econs. quoted with regard to rate increase's impact upon fixed-rate mortgages. [Econ. David JONES - comments on prospective homeowners.] 1980 noted last time rates rose during election year; Jimmy Carter noted voted out of office [JONES - predicts slower economy] Investors noted selling quickly after rate rose.

Brady, Ray;
Kuralt, Charles

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