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July 10, 1986
The Fed dropped the discount rate 1⁄2 of a percent to 6% which means the prime rate should follow.
Today we took A.F.1 to Dothan Ala. with Sen’s. Denton & Heflin & Cong. man Dickinson. It was a wonderful experience. Dothan is the “peanut capital of the world.” 1,000’s of people lined the street to the municipal auditorium where I addressed a crowd of 1,000’s at a fried chicken lunch. The event was to promote tax reform—sponsored by C. of C. The welcome was so warm from the moment we left the plane until we re-boarded for home that once or twice I choked up. Arrived at W.H. 4:45 P.M.—a quiet evening at home.