Word: interests
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Dates: during 1950-1959
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Meanwhile, the cost of consumer loans was sharply rising. In New York, First National City Bank posted a new schedule of charges keyed to the rising cost of money. A representative change: the buyer of a car hereafter will pay the equivalent of 7.8% interest for a bank loan instead...
When the Treasury auctioned off its latest weekly offering of 91-day bills, the interest rate averaged 4.166%. On six-month bills, the rate hit a record high of 4.796%. Meanwhile, the yields on already issued Government bonds soared to new highs. Their prices had dropped so much that nine issues were yielding 5% or better, the fattest yields on Governments since...
...financing in the inflationary short end. Between now and Jan. 1, the Treasury has to refinance almost $12 billion in old debt and borrow $7 billion in new cash. So much money borrowed in the short end has created a strong pressure to shove all interest rates higher. The process is already operating. Last week, as the 91-day bill rate went up to nearly 4.2% from 3.979% on the sale a week before, it easily jumped over the new 4% discount rate set by the Federal Reserve to stop banks from taking advantage of the lower discount rate...
...President's hope is that the public will soon see that Congress did it no favor in trying to keep interest rates under the 4¼% ceiling, which now has turned out to be no ceiling at all but rather a prime cause of higher interest rates. Once the public is educated to that fact, said Ike. "Congress will feel the heat of truth about this matter and do something." At week's end the public was about to be educated. In Washington, the Federal Housing Administration prepared to raise the home mortgage rate from...
...number of highly influential faculty members have expressed their definite interest in meeting to discuss the issue before the next meeting of the Faculty of Arts and Sciences, which is scheduled for Oct. 20. It is not known whether the Committee on Educational Policy or the Committee of Deans will debate the matter before the Faculty meets...