Word: eccleses
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Dates: during 1940-1949
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Wall Streeters, who regard Sproul as one of them, were dismayed to find him backing up FRB Chairman Marriner S. Eccles, whose high-margin policy is cordially hated.
The war against inflation was officially declared won last week. Said Marriner Eccles, cautious chairman of the Federal Reserve Board: "Inflation has largely run its course. Shortages in many important lines have been met and in many other line? are rapidly being overcome." Now it was time to wage the...
The FRB action was of more significance than a mere change in trading technicalities. During the war the market, the consensus of guesses on the financial future, went steadily up as 1) speculators bet on more inflation to come and 2)some of the inflationary cash went into the market...
The real power in the Federal Reserve was still its astute, millionaire chairman, Marriner Stoddard Eccles. He showed this by quickly slapping down Jake Vardaman three days after he had brought his good cheer to the Morris Planners. At a New England bank management conference in Boston, Eccles said bluntly...
Had it not been drowned by the tumult of Washington's inflation wrangles, the voice of Federal Reserve Board Chairman Marriner S. Eccles might often have been heard quietly protesting the "monetization of the public debt." He did not like the way a large proportion of Treasury borrowing had...