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Economy #465477

NBC Evening News for Friday, Jul 07, 1972
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(Studio) Wholesale prices rise .5% in June. Livestock prices up 4.7%, poultry 6.9%, processed meat 3.6%. Dairy products down 1.8%, grain 3.1%, milk .7%. Unemployment drops from 5.9% to 5.5% in June due to seasonal factors. President Nixon meets with Treasury Secretary George Shultz, economy adviser Herbert Stein, and members Cost of Living Council
REPORTER: John Chancellor

(San Clemente, California) President orders new steps to combat rising meat prices. Promises foreign meat suppliers bigger 1973 import quotas if they ship larger quantities now. Tells Pentagon to buy more meat overseas. Orders Agriculture Department to intensify best buys program. Asks chain stores to translate wholesale price declines into retail declines more quickly. [SHULTZ - says President concerned about 1973 budget as Congress has already added $7 billion to it.]
REPORTER: Richard Valeriani

Chancellor, John;
Valeriani, Richard

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