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White House / Recession #474098

NBC Evening News for Thursday, Nov 14, 1974
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(Studio) White House began using word, recession, 2 days ago; reason behind decision discussed.
REPORTER: Edwin Newman

(DC) White House looked to low output of goods and services and rising unemployment before deciding United States really in recession. Gross national product figures for 3rd quarter compared with projected 4th quarter figures. [Chairperson of Council of Econ. Advisers Alan GREENSPAN - doubts United States will experience decline in prices for 2 years Av. American must learn to live with inflation and recession for now.]
REPORTER: Irving R. Levine

Levine, Irving R.;
Newman, Edwin

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