...authority to ask the Federal Reserve to regulate and control "any or all extension of credit when he" — the President— "determines that such action is necessary...by the extension of credit in an excessive volume." And I am quoting the exact language of the statute. Your predecessor as Chairman of the Federal Reserve...

...all extensions of credit" when he — the President — "iletermines that such action is necessarj/ or appropriate for the purpose of preventing or controlling...generated by the extension of credit in an excessive volume"t ¿A. The President said on singing Public Law 91-151 that he nid not intend to vue the credit...

...selective controls over any or all forms of credit. Section 205(a) (12 USC 1904(a) ) reads as follows : (a) Whenever the President determines that such action...regulate and control any or all extensions of credit. It will be noted that this Act can be used only when the President determines that its use is necessary...

...Board of Governors of the Federal Resent System to regulate and control any or all extensions of credit "Whenever the President determines that such action...by the extension of credit in an excessive volume." It would seem illogical for the President to make such a determination at this time when consumers...

...or appropriate for the purpoK preventing or controlling inflation generated by the extension of the credit in an excessive volume, the President may authorize the Board to regulate and control any and nil extension of the credit. That is the law of— The CHAIRMAN. Of course, that is the law. I...

...appropriate for the purpose of preventing or controlling inflation generated by the extension of the credit in an excessive volume, the President may authorize the Board to regulate and control any and all extension of the credit. That is the law of— The CHAIRMAN. Of course, that is the law. I...

...excessive volume. The President could have gramted that authority only under one specific condition : "that such action is necessary or appropriate for...by the extension of credit in an excessive volume". Question 2. At the administration's request, we wrote different language into the Economic Stabilization...

...excessive volume. The President could have granted that authority only under one specific condition: "that such action is necessary or appropriate for...by the extension of credit in an excessive volume". Question 2. At the administration's request, we wrote different language into the Economic Stabilization...

...President has had the power to give you the power to regulate any or all forms of credit in this country if "necessary or appropriate for the purpose of preventing...the extension of credit in an excessive volume." The authority, in the Credit Control Act of 1969, has never been used. A year ago, you testified that the...

...President has had the power to give you the power to regulate any or all forms of credit in this country if "necessary or appropriate for the purpose of preventing...the extension of credit in an excessive volume." The authority, in the Credit Control Act of 1969, has never been used. A year ago, you testified that the...