ABC Evening News for Thursday, Jul 24, 1975
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(Studio) Federal Reserve Bd. chairperson Arthur Burns says recession had painfully corrected imbalances caused by inflation.
REPORTER: Howard K. Smith
(DC) 4 econs. advise damn the deficits and full speed ahead on tax cuts and spending to promote recovery. [Representative Barbara JORDAN - cites advisers' point of view that too much federal spending will prove disastrous.] [U. of Minnesota econ Walter HELLER - calls idea bunk.] [U. of Michigan economy Gardner ACKLEY - calls idea bunk.] [BURNS says could experience faster inflation rate and more unemployment. Bd. following moderate course.] 3 committee hearings show that battle over economic policy beginning.
REPORTER: Dan Cordtz
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