Word: curbed
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
Does U.S. industry know a way to curb inflation? Last week, General Electric's Charles E. Wilson, who often speaks for a large segment of American industry, laid down a rudimentary sketch of such a plan...
...many a layman it sounded like just another bankers' argument, dull and muddy with economists' gobbledygook. But as a handful of top U.S. bankers carried it on before three congressional committees last week, the argument boiled down to one simple, understandable question: How can the U.S. curb inflation without bringing on a slump? But there were no simple answers to this simple question...
...there was small hope of any quick boost in production, the obvious thing to do was curb the amount of spending money. Ttie way to do this, said Federal Reserve Board Chairman Marriner F. Eccles, was to use a few old methods (keep taxes high, restrict housing and installment credit) and one new one. He wanted Congress to give FRB the power to boost maximum reserve requirements of commercial banks (the amount of deposits not available for loans) from the present 26% to 51%. This was the "mildest way," Eccles insisted, of curbing credit...
Eccles flatly said that he "would not recommend" using this power. FRB was still frightened by the slumps of 1920 and 1929. A big boost in rediscount rates had preceded them, and many still blamed the credit curb for the slumps...
...undergraduate's existence were not sufficiently plagued with problems of maintaining equilibrium on ice-covered sidewalks and eluding skidding vehicles, he now must consider the possibility of awakening come morning to find his car missing from its customary illegal berth at the curb...