World News Tonight (ABC) - 1999-02-26

Name: World News Tonight (ABC) - 1999-02-26
Uploaded: 2026-02-20
Duration: 1714 s
Channel: malgent
Description: Read a transcript preview of “World News Tonight (ABC) - 1999-02-26” from malgent, uploaded on 2026-02-20.

Channel: malgent

Uploaded: 2026-02-20

Duration: PT1714S

Read a transcript preview of “World News Tonight (ABC) - 1999-02-26” from malgent, uploaded on 2026-02-20.

Transcript preview

Language: English (original, YouTube automatic captions)

[0:05] On World News Tonight this Friday, a

[0:07] blistering hot economy, virtually no

[0:09] inflation. You almost never see it like

[0:11] this. The government wants to take

[0:13] whatever glamour there is out of smoking

[0:16] cigars.

[0:17] On the cutting edge between doctors and

[0:19] their patients, the health buddy and the

[0:22] castle for the common man, the century

[0:25] on Friday.

[0:33] From ABC News World Headquarters in New

[0:36] York, this is World News Tonight with

[0:40] Peter Jennings.

[0:40] >> Good evening. It's been an interesting

[0:41] time for economists who believe in

[0:43] conventional wisdom. Under the

[0:45] circumstances of the economy today, low

[0:47] unemployment and powerful growth, the

[0:49] conventional notion used to be watch out

[0:52] for inflation. It isn't there. In the

[0:55] most recent measurement, the gross

[0:56] domestic product, which measures all

[0:57] goods and services in the economy, was

[1:00] up 6.1% in the fourth quarter of last

[1:02] year. This is as good as it has been in

[1:05] a generation. And so, we start on the

[1:07] money tonight with ABC's Betsy Stark.

[1:11] The last time the economy grew this

[1:13] fast, 10 years ago, Ronald Reagan was in

[1:16] the White House. The Ford Escort was the

[1:18] bestselling car in America, and

[1:20] inflation was running at almost three

[1:22] times the rate it is today. And that's

[1:25] the really good news in today's report.

[1:28] Inflation remains virtually

[1:29] non-existent.

[1:31] One reason prices remain low is the

[1:33] Asian economic crisis. As demand for

[1:36] everything from grain to crude oil has

[1:38] dropped, the prices of those important

[1:40] commodities have dropped too. Stiff

[1:43] competition is also keeping a lid on

[1:45] inflation. The