Conflicting Official Views on Monetary Policy: April 1956: Hearing Before the Subcommittee on Economic Stabilization of the Joint Committee on the Economic Report, Congress of the United States, Eighty-fourth Congress, Second Session, Pursuant to Sec. 5a of Public Law 304, 79th Congress. June 12, 1956, Volume 7

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U.S. Government Printing Office, 1956 - 62 halaman
 

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Halaman 3 - These discussions preceded the working out of the accord between the Treasury and the Federal Reserve concerning policies that deal with their related problems. The following joint announcement was made on March 3, 1951, for publication March 4, by the Secretary of the Treasury and the Chairman of the Board of Governors and of the Federal Open Market Committee of the Federal Reserve System...
Halaman 55 - The Federal Reserve Board is set up as a separate agency of Government. It is not under the authority of the President, and I, personally, believe it would be a mistake to make it definitely and directly responsible to the political head of state...
Halaman 35 - B. Woodward, Jr Chairman of the Board, Newport News Shipbuilding & Dry Dock Company, Newport News, Va 1958 Alonzo G.
Halaman 30 - Class B shall consist of three members, who at the time of their election shall be actively engaged in their district in commerce, agriculture or some other industrial pursuit.
Halaman 34 - Howard C. Sheperd Chairman of the Board, The First National City Bank of New York, New York, NY 1958 Charles W.
Halaman 34 - Charles S. Cheston, Philadelphia, Pa. S. Bayard Colgate, honorary chairman of the board, Colgate-Palmolive-Peet Co., New York, NY S. Sloan Colt, president, Bankers Trust Co., New York, NY Gardner Cowles, president, Des Moines Register and Tribune and Cowles Magazines, Inc., New York, NY Jay E. Crane, vice president, Standard Oil Co. (New Jersey), New York, NY Harlow H. Curtice, president. General Motors Corp., Detroit, Mich. DW Figgis, director and former chairman of the board, American Can Co.,...
Halaman 40 - Burgess' testimony : Now, the agreement had a lot of codicils and strings and things to it that made it far from perfect, but it was a great step forward. It did not go all the way. It did not completely free the market from Federal Reserve support. The Treasury, I think, continued to try to put out its securities at artificially low rates. When we came in, at the end of 1952 and the beginning of 1953, we recognized those principles. We felt we carried them to their logical conclusion in giving the...
Halaman 35 - Whiteslde, director, public relations and advertising. Mercantile Trust Co., St. Louis, Mo. Robert T. Browne, director of marketing, grocery products division...
Halaman 43 - I think it [the money market] is a free market. I think one of the great blessings of our economy today is that neither the Federal Reserve nor the Treasury is strong enough to override the forces at the grass roots that are there in the economy. . . . Now, you can vitiate the forces of supply and demand, but you pay a price for it, and when the Treasury does its financing, neither the Federal Reserve nor the Treasury can afford to ignore the forces of the market unless they want to have unbridled...
Halaman 55 - We cannot afford much longer * * * to go ahead not really knowing what to expect of our central banking system, of our commercial banking system, of our savings banks and building and loan associations, of our insurance companies and pension trusts, and of all the other bits and pieces which we are using to try to keep our production facilities and our credit facilities in balance.

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