Monetary Policy and the Management of the Public Debt: Their Role in Achieving Price Stability and High-level Employment, Part 1 |
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Page ix
... increase banks ' needs for liquidity because of un- certainty as to whether additional reserves will be available , and at what cost . At the same time the market price of assets on hand is reduced and their sale thus made less ...
... increase banks ' needs for liquidity because of un- certainty as to whether additional reserves will be available , and at what cost . At the same time the market price of assets on hand is reduced and their sale thus made less ...
Page x
... increase the public debt as a result of defense activities , serious con- sideration should be given to the adequacy of the various types of debt instru- ments now used by the Federal Government . The confidence of the public in the ...
... increase the public debt as a result of defense activities , serious con- sideration should be given to the adequacy of the various types of debt instru- ments now used by the Federal Government . The confidence of the public in the ...
Page 56
... increase in short rates would spread to longer - term rates could be determined only by the event - by which time it might be too late to avert serious unfortunate consequences , both to the cost of Government financing and to our hopes ...
... increase in short rates would spread to longer - term rates could be determined only by the event - by which time it might be too late to avert serious unfortunate consequences , both to the cost of Government financing and to our hopes ...
Page 57
... increase the cost of servicing the public debt and increase the earnings of commercial banks growing out of their holdings of Government securities . We do not favor either result . While we are reluctant to burden the record with ...
... increase the cost of servicing the public debt and increase the earnings of commercial banks growing out of their holdings of Government securities . We do not favor either result . While we are reluctant to burden the record with ...
Page 59
... increase in short - term rates . The case we sought to make and thought we had demonstrated clearly was based on our earnest desire to stop further creation of inflationary bank credit , both directly and indirectly . It should be borne ...
... increase in short - term rates . The case we sought to make and thought we had demonstrated clearly was based on our earnest desire to stop further creation of inflationary bank credit , both directly and indirectly . It should be borne ...
Common terms and phrases
action activities agencies amount answer to Question assets authority bank credit bank reserves bankers banking system billion Board of Governors borrowing branches capital cash central bank Chairman changes commercial banks Congress Corporation countries credit and monetary credit controls credit expansion credit policy debt management defense Defense Production Act demand deposits direct discount rates discussion dollars economic effect Federal Reserve Act Federal Reserve Banks Federal Reserve System financing fiscal functions funds gold Government securities holdings important increase inflation inflationary pressures institutions interest rates investment investors issues lenders lending liquidity loans long-term maturity member banks ment monetary policy National Bank nonbank Open Market Committee open market operations percent period postwar President problems public debt purchases purpose rediscount reduced refunding regulation reserve requirements restrictive savings bonds Secretary selective credit short-term stability tion Treasury bills Treasury securities United volume
Popular passages
Page 8 - ... other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments, to coordinate and utilize all its plans, functions, and resources for the purpose of creating and maintaining, in a manner calculated to foster and promote free competitive enterprise and the general welfare, conditions under which there will be afforded useful employment opportunities, including self-employment, for those able, willing, and...
Page 16 - Employment Act of 1946". DECLARATION OF POLICY SEC. 2. The Congress hereby declares that it is the continuing policy and responsibility of the Federal Government to use all practicable means consistent with its needs and obligations and other essential considerations of national policy, with the assistance and cooperation of industry, agriculture, labor, and State and local governments, to coordinate and utilize all its plans, functions, and resources for the purpose of creating and maintaining,...
Page 246 - The time, character, and volume of all purchases and sales of paper described in section 14 of this Act as eligible for open-market operations shall be governed with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country.
Page 246 - The Federal Trade Commission is an administrative body created by Congress to carry into effect legislative policies embodied in the statute in accordance with the legislative standard therein prescribed, and to perform other specified duties as a legislative or as a judicial aid. Such a body cannot in any proper sense be characterized as an arm or an eye of the executive. Its duties are performed without executive leave and, in the contemplation of the statute, must be free from executive control....
Page 308 - The board of directors of the Corporation shall determine and prescribe the manner in which its obligations shall be incurred and its expenses allowed and paid.
Page 17 - Government to the extent that they make or participate in the making of foreign loans or engage in foreign financial, exchange or monetary transactions.
Page 40 - States, to receive any tax imposed under the internal revenue laws, in such manner, at such times, and under such conditions as he may prescribe; and he shall prescribe the manner, times, and conditions under which the receipt of such tax by such banks and trust companies is to be treated as payment of such...
Page xi - DIDC consists of the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the Chairman of the Board of...
Page 211 - System, extend to each member bank such discounts, advancements, and accommodations as may be safely and reasonably made with due regard for the claims and demands of other member banks, the maintenance of sound credit conditions, and the accommodation of commerce, industry, and agriculture.
Page 28 - ... heretofore vested by law in the Secretary of the Treasury which relate to the supervision, management, and control of the Treasury Department and bureaus under such department, and wherever any power vested by this Act in the...