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(Studio) Treasury Secretary William Simon rejects economy advice to let more money flow into economy and lower interest rates. Simon says fiscal and monetary restraints must be kept. Chairperson Council Econ. Advisers, Alan Greenspan, agrees. Says easing of money policies would lead to short-term easing.
REPORTER: John Chancellor
(DC) [GREENSPAN - says inflation won't go away quickly. Avg. hsewife. should be concerned.] Says factories lay off workers because buying power reduced. [GREENSPAN - says no policy to lower unemployment rate.] Unemployment 5.4% in August
REPORTER: Irving R. Levine
- Chancellor, John;
- Levine, Irving R.
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