Word: feds
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Dates: during 1960-1969
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...Daley has bitterly declared that he will brook no trouble from would-be demonstrators when the Democratic Convention gets underway in August. "I think the great mass of American people has had enough of those who carry Viet Cong flags in the streets of this country, and are getting fed up with the cry of police brutality," he told his wildly applauding City Council...
Howard Zinn, professor of government at Boston University and author of Vietnam: The Logic of Withdrawal, said that the indictment is really not aimed at the five but at the "very large numbers of American people who are fed up with the war and haven't yet voiced their opposition." "It's the government's way of saying to all these ordinary people, 'You had better shut...
...Federal Reserve Board's increase in the discount rate from 4% to 4½% in November was primarily a reaction to international pressures on the dollar created by the devaluation of the British pound. Many observers saw it also as a domestic signal that the Fed was disturbed by inflationary pressures that continued to rise even as Congress was refusing to pass a surtax. Last week Federal Reserve Chairman William McChesney Martin and his governors tipped another signal that they are worried about inflation. The board ordered an increase in the reserves of its member banks. The order affected...
With less money available to borrow, all sections of the economy will feel the pinch. But as the Fed intended, it will be modest. Even the stock and bond markets, normally the first to react strongly to tighter money, took the news without a noticeable tremor because both had been expecting...
Inventory drops in past years have often triggered genuine recessions. To forestall such a possibility, the Federal Reserve Board moved in its role as a monetary balance wheel. In place of its tight money policy of 1966, the Fed all year literally stuffed banks with funds. In its early stages, the massive infusion helped to keep the economic dip trivial. For a few months, interest rates fell, but as the mini-recession melted away, voracious business demand for loans reversed that trend. Corporations borrowed $16 billion through bonds and other debt securities in 1967, almost half again as much...