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Economy #501881

NBC Evening News for Tuesday, Oct 09, 1979
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(Studio) Stk. market activity the past 2 days cited; Federal Reserve Bd.'s decision to increase lending rates reported responsible.
REPORTER: John Chancellor

(NYC) Effect of board's move on stock exchange examined. [Economist Lawrence KUDLOW - comments.] Paul Volcker mentioned. Policy rationale behind board's move outlined; effect of incrd. interest rates on consumer considered.
REPORTER: Mike Jensen

(Studio) President Carter quoted with regard to board's action.
REPORTER: John Chancellor

(DC) Carter's defense of administration's anti-inflation program noted. [CARTER - discusses fiscal policy, inflation.] President's argument that energy prices are primary cause of inflation; his lifting of ceiling on domestic oil prices and effect on inflation rate recalled. OPEC (Organization of Petroleum Exporting Countries) mentioned.
REPORTER: Judy Woodruff

(Studio) United States dollar gain on foreign mkts and current gold prices reported.
REPORTER: John Chancellor

Reporter(s):
Chancellor, John;
Jensen, Mike;
Woodruff, Judy
Duration:
00:04:00

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