Trade deficit seen in U S forecast similar to last year
Commerce Department analysts project a near record trade deficit for 1975 with imports over 10 billion and exports about 98 billion. Oil prices drive the gap as oil alone may claim a quarter of import costs while energy sav ings and inflation cloud prospects.
MENTIONED IN THIS ARTICLE
Washington
United States
Commerce Department
Department
Commercce
U.S
IMF gold value cut not expected to trigger inflation
U.S. Treasury officials said the IMF decision to abolish the $42 per ounce gold value will not cause inflationary pressure in the world economy immediately. Undersecretary Jack Bennett noted the impact could grow if legislators choose to spend more, despite calling the French revaluation largely insignificant.
MENTIONED IN THIS ARTICLE
Washington
UPI
U.S. Treasury
International Monetary Fund
IMF
Jack Bennett
The
Treasury
Monetary Affairs
Bennett
Final approval of 30 percent plan cuts food stamps
The Agriculture Department announced final approval of a plan reducing food stamp benefits by about 645 million annually starting March 1. Most participants will pay 30 percent of net income for stamps, with free aid for very low income households, and two modifications keep cash payments just below stamp value and remove sub dollar amounts from calculations.
MENTIONED IN THIS ARTICLE
Washington
UPI
Congress
Agriculture Department
Richard Feltner
Nader calls for curb on AT T rate hike
Ralph Nader urged Congress to block AT T's requested rate increase claiming it could take effect without FCC approval. He warned the move would cost the average phone user about 7.5 percent and pressed for prompt legislation to halt the rise until the commission acts.
MENTIONED IN THIS ARTICLE
Washington
UPI
Congress
Ralph Nader
Consumer Advocate
American Telephone and Telegraph Co
Federal Communications Commission
At&t
Nader
Blanks at Olin plant touted as future penny profit
In East Alton Illinois a machine at the Olin Brass division makes 180 pennies each minute and raises hopes of strong profits. The plant supplies blanks for the U S Mint and anticipates demand from a penny shortage and commemorative coin plans next year.
MENTIONED IN THIS ARTICLE
East Alton
Olin Corp
Olin Brass
United States Mint
Denver
Philadelphia
Consumer advocacy agency revived in Senate drive
Senator Abraham Ribicoff with 38 co sponsors re introduced a bill for a federal independent non regulatory Agency for Consumer Advocacy to speak for consumers in court and before regulators. Supporters predict passage despite past filibuster and potential Ford veto amid 60 million dollar three year budget.
MENTIONED IN THIS ARTICLE
Washington
Abraham Ribicoff
Ribicoff
D-Conn
James B. Allen
D-Ala
Sam J. Ervin Jr
D-N.c
Perey
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