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Economy #508833

NBC Evening News for Friday, Feb 15, 1980
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(Studio) Wholesale price increase in January said largest monthly jump since 1974; Fed. Reserve Bd.'s increase in discount rate and inflationary impact reported.
REPORTER: John Chancellor

(DC) Gold and silver prices said affecting wholesale price increases; details given. [Econ. adviser Charles SCHULTZE - comments.] Admin.'s surprise, due to decline in food prices, noted; increases in autos, gasoline wholesale prices mentioned. [Gasoline station owner Bill PARKER - comments.] [SCHULTZE - notes other areas of energy that will increase] Congress reported beginning hearings later in month on mandatory wage and price controls.
REPORTER: Irving R. Levine

(NYC) Federal Reserve's increase in discount rate examined; areas of impact outlined on screen. Incring. support for wage/price freeze cited. [Investment banker Felix POHATYN - comments.] Last wage/price controls, under Richard Nixon, recalled. [August 16, 1971, NIXON - announces freeze.] Impact of controls on inflation noted
REPORTER: Mike Jensen

(Studio) Reaction to situation by foreign investors and stock market reported Predicted downturn of economy growth said not yet appearing; January industry production reported.
REPORTER: John Chancellor

Chancellor, John;
Jensen, Mike;
Levine, Irving R.

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