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October

20

1987

October 20, 1987



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Diary Entry - 10/20/1987

Tuesday, October 20, 1987

View the President's Schedule

First meeting discussed mkt. Howard said we’d meet with Alan Greenspan, Jim Baker & Beryl Sprinkel later in day. The Fed announced they would add a little liquidity to the money supply & 2 major banks reduced their interest rates. Chmn. of Stock Exchange is acting very upset. Sale of Long Range Bonds is up. Mkt. in Hong Kong shut down for a week. (At 2:35 in the afternoon 490 mil. shares had been traded & the Dow was up 59.83 points).

We also learned a list of possibles for Sup. Ct. will be along shortly. Incidentally 3 ladies are possibles for Sec. of Labor—Mrs. McLaughlin, Carla Hills & Connie Horner. Then a briefing for the upcoming meeting with P.M. Gandhi of India. And the meeting—I’ve gotten us on a 1st name basis. It was a good session including the working lunch. I believe we have a good personal relationship that carries over to our 2 nations. After his departure I met 6 incoming Ambassadors & their familys. Then went up to the W.H. & had the meeting I mentioned.

It was a good one—we are going to meet with the Dem. & Repub. leaders of Cong. to work out a process to balance the budget among other things. At 4 P.M. the mkt. closed at 108.27 up & 640,000,000 shares traded.

Out to the hospital—Dick arrived also & we had dinner together. Nancy is fine.