Word: mcchesney
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Dates: during 1960-1969
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...Though the board is usually as secretive and unpredictable as the CIA, broad hints that it may soon tighten money were voiced last week by three insiders-the presidents of the New York and Cleveland Federal Reserve banks and the board's economic advisor, Guy Noyes. Chairman William McChesney Martin Jr. seemed somewhat more sanguine. Said he: "Actually, the price situation is healthy today except for an incipient tendency of some prices to break out on the plus side." Martin means that prices are beginning to rise, and to judge whether that and the increased stockpiling mean the start...
More Powers. Prudence is a way of life for the bankers, and they would be the last to claim that their fortunes can continue to rise indefinitely.*Some bankers complain that interest payments on deposits are too generous and inflexible, while others, including Federal Reserve Chairman William McChesney Martin, worry that the bankers have taken on too many chancy construction loans. On the other hand, the fact that the bankers have lent out so much reduces the prospect of economic excess. Because the banks have only a small supply of liquid funds, the Federal Reserve now has greater power...
Construction in the U.S. is humming at a record $67 billion-a-year rate, and that ought to make everyone close to the building business happy. But it doesn't. There is open concern- expressed by Federal Reserve Board Chairman William McChesney Martin Jr. and chief Presidential Economist Walter Heller, among others- that the long postwar building boom may be coming to a pause. In the past two years, builders have put up twice as many apartments as they did the previous two years, and there has also been a marked rise in the number of office buildings, motels...
...William McChesney Martin Jr., chairman of the Federal Reserve Board...
...about its international payments in the past three years: a balance for the year's first quarter. How could Dillon play that down? Well, he managed deftly by describing the new payments figures as "alarmingly good." Talking before the Advertising Council, Federal Reserve Board Chairman William McChesney Martin Jr. seemed relieved to report that the demand for money had fallen below his expectations, largely because of high corporate profits and heavy cash flow. The result: the Federal Reserve's Open Market Committee decided that higher interest rates are not necessary...