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Inflation / Food / Poor / Grain Shortage #475330

NBC Evening News for Tuesday, Feb 26, 1974
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(Studio) Chairperson of Federal Reserve Bd. Arthur Burns says inflation can't be halted in `74 as President suggested during press conference Govt. figures show annual cost of average family's groceries over $1600. Bakers make dire predictions about bread availability.
REPORTER: John Chancellor

(DC) Spns. paint bleak picture and insist government must keep sufficient wheat for domestic use. [American Bakers Association Robert WAGER - believes bread shortage inevitable unless government action taken.] [Associated Retail Bakers William QUINLAN - declares bread lines to form this year if government doesn't halt imports.] Agriculture Secretary Earl Butz insists bread industry alarming Americans needlessly.
REPORTER: Robert Goralski

(Studio) National association of wheat growers believes bakers wrong. Poor already feel effect of grain shortage.
REPORTER: John Chancellor

(Cleveland, Ohio) Because of large grain sales overseas, little grain left to donate to charitable organizations. [Exec director CARE, Frank GOFFIA - says lack of commodities forces organization to cut off several million people from aid programs.] The Salvation Army to curtail program or ask for more money because grain surplus not available. [Salvation Army Brigadier Mary VERNOR - states millions of people to suffer from grain shortage.]
REPORTER: Lou Davis

Reporter(s):
Chancellor, John;
Davis, Lou;
Goralski, Robert
Duration:
00:05:40

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