ABC Evening News for Tuesday, Jul 30, 1974
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(Studio) Federal Reserve Bd. chairperson Arthur Burns tells House Banking Committee how to cut inflation; details given. Econ. adviser Herbert Stein tells joint econ. committee that reduction of demands must occur if inflation to slow; unemployment could increase to 6% by year's end, however. Retired Americans hardest hit by inflation.
REPORTER: Harry Reasoner
(Mtn. Home, Arkansas) Retirees react to inflation. Retirees' incomes fixed as inflation conts. to spiral prices. Retired may use leisure hrs. productively. John and Anne Haynes love to fish, providing fun and food for table. Haynes also raise garden to supply food. [Mrs. HAYNES - wants to be independent, but inflation makes it harder and harder.]
REPORTER: Ron Miller
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