ABC Evening News for Friday, Aug 23, 1974
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(Studio) Mkt. activity cause for alarm. Stk. Mkt. Report given. 1st National City Bank of New York decides to keep prime interest rate at 12%.
REPORTER: Harry Reasoner
(NYC) [Investment banker Barton BIGGS - says world economy is sick.] Experts say will take recession to pull us out of inflation. [BIGGS - talks of possibility of recession.] [Mfrs. Hanover Trust Company board chairperson Gabriel HANGEN - says would put Vice President in charge of all economy affairs. Need leader]
REPORTER: Gregory Jackson
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