NBC Evening News for Friday, Nov 03, 1978
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(Studio) Testimony on economy by administration officials to Congress reported
REPORTER: David Brinkley
(DC) Details about Senate hearing on Carter anti-inflation program given. [Senator Edward BROOKE - says planned policies raise spectre of recession.] [White House economy adviser Charles SCHULTZE - says there is risk, but there was risk of recession before announcement of administration policies.] [Inflation adviser Alfred KAHN - says there's no way to get away from possibility of recession.] Admin. officials' pledge that next step won't be mandatory wage and price controls stated. [KAHN - says AFL-CIO President George Meany's statements about Carter plan are ludicrous in light of Meany's own opposition to wage and price controls of few years ago.] Differences in Carter's statements about recession and advisers' refusal to guarantee there won't be one said to be due to Carter being on campaign trail while advisers weren't.
REPORTER: Irving R. Levine
(Studio) United States dollar's increase in value against foreign currencies like Swiss franc and W. German mark noted; decrease in gold prices reported Is stated that American soldiers in West Germany now sell things on black market to make ends meet, as did Germans after war.
REPORTER: John Chancellor
(Berlin, West Germany) Details about effect of dollar values on American soldiers in Germany given. Sale of American cigarettes by GI's to Germans on black market noted. Other effects of economy strain on dollar overseas to Army budget described.
REPORTER: Fred Briggs
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