An Act of Lower Interest Rates and Allocate Credit: Hearings Before the Subcommittee on Domestic Monetary Policy of ... , 94-1 on H.R. 212 ... , February 5 and 6, 19751975 - 376 pages |
Common terms and phrases
allocate credit allocation of credit annual rate areas assets bank's bankers bill billion bonds borrowers Brimmer BROZEN Budget BURNS capital markets Cent Cent central banks certificates of deposit Chairman PATMAN collateral commercial banks Committee Congress CONLAN consumer corporate credit allocation Credit Control decline deficit demand deposits dollars domestic economy effect European-American FDIC Federal Reserve Bank Federal Reserve Board Federal Reserve System Foreign Branch foreign exchange Franklin National Bank full employment going Government GRADISON housing income increase industry inflationary interest rates legislation lenders lending liquidity loans and investments lower interest rates member banks ment monetary aggregates monetary policy money growth rates money stock money supply mortgage national priority operations percent period problem production proposed purchase question rate of growth recession reserve requirements Reuss rise savings Secretary SIMON sectors securities statement subcommittee THUROW tion unemployment wage York
Popular passages
Page 289 - For the purposes of this section — " (1) continuity of session is broken only by an adjournment of Congress sine die ; and "(2) the days on which either House is not in session because of an adjournment of more than three days to a day certain are excluded in the computation of any period of time in which Congress is in continuous session.
Page 199 - Whenever the President determines that such action is necessary or appropriate for the purpose of preventing or controlling inflation generated by the extension of credit in an excessive volume, the President may authorize the Board to regulate and control any or all extensions of credit.
Page 313 - Under the Employment Act, full employment means more than jobs. It means full utilization of our natural resources, our technology and science, our farms and factories, our business brains, and our labor skills. The concept of full employment values ends as well as means : it values leisure as well as work; it values self-development as 'well as dedication to a common purpose; it values individual initiative as well as group cooperation. In the broadest sense, full employment means maximum opportunity...
Page 161 - Federal agency" means any department, agency, corporation, or other entity or instrumentality of the executive branch of the Federal Government, including the United States Postal Service, the Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation. (6) The term "Federal building...
Page 153 - ... abolish the Open Market Committee; 2. Reconstitution of the Federal Reserve Board to include representatives of agriculture, small business, and labor; 3. Reconstitution of the law making the Federal Reserve Board responsible to the Congress: 4. Reestablishment of ceilings on Interest rates; 5.
Page 314 - Thus, some of the percentage figures on full-time unemployment vary very slightly from the official reports.which do not take account of the augmented labor force. Full-time unemployment of 2.9% and true unemployment of 4.1% would be consistent with maximum employment. All data relate to persons 16 years of age and older.
Page 232 - As soon as possible after the closing of an insured bank, the Corporation, if it finds that it is advisable and in the interest of the depositors of the closed bank or the public, shall organize a new national bank to assume the insured deposits of such closed bank and otherwise to perform temporarily the functions hereinafter provided for. The new bank shall have its place of business in the same community as the closed bank.
Page 65 - to keep credit expansion reasonable." Moreover, while expressing strong opposition to any formal system of credit allocation by commercial banks, the Board of Governors of the Federal Reserve System in its conduct of general monetary policy has on several occasions taken an active role in counseling banks on their loan strategies. For example, in September 1974 the Board released a statement by the Federal Advisory Council (FAC) on bank lending policies...
Page 329 - ... from which public revenues to support public programs are extracted at any given level of taxation. Moreover, the truth is (although unfortunately it has not yet gained general public acceptance) that there has been a negative rather than a positive correlation during recent years between the rate of real economic growth and the amount of price inflation. During...