Word: fowler
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...another step to ease borrowing pressures, Johnson promised-and Treasury Secretary Henry Fowler promptly acted-to limit sales of certain kinds of federal securities, in order to "eliminate from the market as much federal demand for funds as possible." The President also asked the Federal Reserve Board and commercial banks to "seize the earliest opportunity" to reduce interest rates paid by borrowers-currently 6% for prime customers of major U.S. banks. As for interest rates paid to depositors, an Administration-backed bill giving the Federal Reserve Board and other regulatory agencies discretionary power to impose interest ceilings sailed through...
...Interior Secretary Stewart L. Udall, United Nations Ambassador Arthur Goldberg and even Housing and Urban Development Secretary Robert Weaver, despite the harsh treatment that Kennedy subjected him to during the recent hearings on cities. Behind Johnson, the experts speculated, would be Secretary of State Dean Rusk, Treasury Secretary Henry Fowler, Commerce Secretary John Connor and Health, Education and Welfare Secretary John Gardner. Postmaster General Larry O'Brien is considered a question mark. In the second and third tiers of the federal bureaucracy and among Democratic officeholders around the U.S., the preference for Bobby is even more pronounced...
...White House meeting, Treasury Secretary Henry Fowler and Commerce Secretary John Connor opposed any action by the Administration, but they were virtually alone. The President ordered the Budget Bureau and the Treasury to work out some recommendations, put his men to work drafting an economic message that will outline a series of at least half a dozen specific actions. There will almost certainly be no general tax increase right now, partly because Johnson believes that such a hike would hurt Democrats in the coming elections and partly because he feels that asking for it now would give Republicans an excuse...
...Better Way. In their move to raise rates, banks ignored an appeal for restraint from Treasury Secretary Henry Fowler. "Surely," he begged, "there is a better way to limit credit than by simply raising its price." There is certainly. The Government itself could cut spending, thereby allowing the Treasury to curb its own borrowing; this not only accounts for a big share of the credit demand that worries Fowler but also tends to expand banks' ability to inflate credit. Reason: the Federal Reserve Board must often pump money into the economy to ensure that the Government can sell...
Secretary Fowler, with Yankee optimism, predicted last week that, with proper give and take, monetary reform could be accomplished...