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Economy / Carter Program / Predictions / Industrial Production / Dollar Values #51645

ABC Evening News for Wednesday, Nov 15, 1978
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(Studio) Comments on possible depression in future of United States economy by President Carter's anti-inflation chief, Alfred Kahn, noted.
REPORTER: Frank Reynolds

(DC) Kahn's remarks to retailers' convention in Washington, DC on Carter's inflation-fighting plans reported [KAHN - asks what alternative there is to program. Can see only 2, deep depression or mandatory wage and price controls.] Predicted reaction of American public and success of mandatory controls, as stated by Kahn, given. [KAHN - characterizes situation.] White House campaign against opponents of Carter plan, saying opponents have nothing better to offer, mentioned.
REPORTER: Charles Gibson

(Studio) Testimony to Senator Banking Committee by 2 private econs. that Carter plan for vol. wage and price controls won't work stated. Econs.' predictions of incrd. unemployment in 1979 noted. Government report on industry product growth in October given.
REPORTER: Frank Reynolds

(Studio) Plane orders placed with Boeing by American and Delta Airlines reported Incr. in dollar values on foreign mkts., include rise against Japanese yen noted; problems for Japanese because of low dollar values outlined.
REPORTER: Max Robinson

(Tokyo, Japan) Incr. in Datsun car prices in United States over last year due to dollar fluctuation noted. Concern about profits by execs. at corp. headquarters in Tokyo reported [Nissan Auto spokesperson Goto MITSUYA - says sales are up but profits down because of appreciation of yen in recent mos.] Japanese government study results stated, that economy system in nation hasn't passed on to consumer benefits of lower import prices on American goods. Prices of Campbell's soup, Skippy peanut butter, Spam meat product and MJG coffee given as exs. One woman's purchase of 2 pounds of coffee as wedding gift mentioned.
REPORTER: Bill Redeker

Reporter(s):
Gibson, Charles;
Redeker, Bill;
Reynolds, Frank;
Robinson, Max
Duration:
00:04:10

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