Word: billion
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Dates: during 1950-1959
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GOLD OUTFLOW from U.S. in 1958 has topped $1.76 billion, more than any full-year drop in nation's history. Movement is caused by recent recession, slump in exports, investors' flight from dollar...
...Street was highly skeptical about the power of the FRB because, in trying to control the new inflation it fears, the FRB is up against a big problem it did not have before. The FRB will have to keep credit easy enough so that the Treasury can raise $10 billion to $12 billion to finance the biggest postwar deficit, and do that at a time when the Government bond market is the weakest in years...
...might have to tighten credit. Bond buyers saw the promise of higher interest ahead and dumped their holdings. The speculative bubble burst. As prices fell, the yields reached as high as 3! on Government bonds. The Government bond market turned so weak that when the Treasury floated a $16.3 billion issue of one-year certificates, the FRB had to support the market by buying $1.2 billion of it, thus adding to the credit supply. Then it tried to tighten credit by sopping up the extra funds and permitting its banks to boost their discount rates. For the debacle in bonds...
...Anderson have to find their way out of the debris of the bond break. Within the next month, the Treasury must raise $3.5 billion in new money, the first of a series of huge financing operations over the next ten months by which Anderson must raise new cash, and refinance some $46 billion in maturing securities. With private investors scared out of the bond market, the Treasury is counting heavily on commercial banks to buy its future issues. Since the banks can turn right around and borrow from the FRB on the bonds, this will also add to the credit...
...have heard," Eaton told the Premier, "the Soviet impression that American industry is in favor of war so that war orders will continue to flow. Speaking solely as a capitalist, we industrialists are not at all happy about spending $40 billion a year for implements of war that, if they had to be used, would mean the destruction of all our property, and our annihilation at the same time. Don't forget that this arms race places a crushing burden of taxation on industry." Khrushchev understood, "because of the expense to us of our own defense effort," but said...