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Economy / Carter Monetary Policy / Dollar / Stock Market Report #496548

NBC Evening News for Wednesday, Nov 01, 1978
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(Studio) Admin. steps to strengthen United States dollar detailed; increase in dollar value on foreign money markets, greatest single day increase in stock market history noted.
REPORTER: David Brinkley

(DC) [President CARTER - says United States dollar decline unwarranted.] Specific monetary policy measures outlined; danger of new policy leading to recession noted.
REPORTER: Irving R. Levine

(NYC) Largest one-day stock market increase stated; effect of Federal Reserve Board announcement with regard to raising discount rate on market reported [Morgan Stanley and Company executive Robert BALDWIN - says today significant in United States financial history.] United States dollar increases against foreign currencies stated; gold price decline detailed.
REPORTER: Mike Jensen

(London, England) Incr. of United States dollar against British pound reported [National Westminster Bank executive W.F.J. BATT - says strong, stable dollar important for international trade.] Importance of reducing United States trade deficit mentioned.
REPORTER: Paul Cunningham

(Studio) Factors leading President Carter to act despite risk of recession detailed.
REPORTER: John Chancellor

(DC) Treasury Department official Anthony Solomon role in development of announced monetary policy noted; unusual nature of actions for Demo president noted; administration official's statement with regard to positive image of Carter's actions reported
REPORTER: Judy Woodruff

Brinkley, David;
Chancellor, John;
Cunningham, Paul;
Jensen, Mike;
Levine, Irving R.;
Woodruff, Judy

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