President's Carter's plans for an integrated energy policy had a set back on Wednesday (25 July) when Congress rejected legislation which would have given him the authority to ration petrol.
GV AND CU President of United States, Jimmy Carter on rostrum at news conference (three shots)
GV AND CU President Carter responding to questions from newsmen (eight shots)
CU AND GV President Carter leaving rostrum at end of news conference (three shots)
TRANSCRIPT: CARTER: "I felt and still feel that I had to make some changes in my cabinet as I said earlier to create a new team to work with me. A team that will be united, that will be forceful and aggressive and competent in facing the problems that we must meet in the months ahead. I have no apology to make for it. Some people thought it was made too rapidly. I had the choice of either dragging it out week after week after week with speculation and doubt and confusion, or getting it over in effect in forty-eight hours. And I felt that the abrupt action based on the long and careful consideration was the best approach."
REPORTER: "Are you planning to install any foreign exchange controls or capital controls in order to protest the decline of the dollar and are you planning any further appointments from the corporate sector?"
CARTER: "I do not contemplate taking action of that kind. I think that the dollar is sound. I have just announced today that I'm appointing Paul Volcker, a highly-qualified person, internationally respected, as a knowledgeable man on monetary systems on whom I can depend. There's no doubt that he will work harmoniously with me, with Bill Miller, who will be the new Secretary of the Treasury. And I believe that this new team will be very effective."
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Background: President's Carter's plans for an integrated energy policy had a set back on Wednesday (25 July) when Congress rejected legislation which would have given him the authority to ration petrol. Following the recent government shake-up the President has filled another key post by appointing Paul Volcker as new President of the Federal Reserve Bank, the country's central banking authority. Mr Carter called his first news conference since the reshuffle on Wednesday, answering questions about the cabinet purge, and his administration's economic plans for the future.
SYNOPSIS: Despite recent criticisms President Carter seemed confident and unrepentant.
Mr Carter also explained his plans to win back the confidence of the American people before the 1980 Presidential election. But Congress' rejection of the energy legislation is a major blow to the President's new political initiative, and he appealed to the American people for help in exerting pressure on Congress to support the measures.