Word: mcchesney
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
This judgment, delivered at his desk-pounding best by Texas Democrat Wright Patman two weeks ago, was an expected but more than usually hyperbolic condemnation of William McChesney Martin. At each of his 18 yearly appearances before congressional committees, Martin has been routinely scourged for his chairmanship of the Federal Reserve Board, which Populist Patman blames for tight money and high interest rates. This year Patman has plenty of company. More critics than ever, ranging from academe to the new Administration, are taking aim at the nation's central bank...
...stripped of most of its powers to manipulate money. As he sees it, the board's seven governors-who now serve for 14 years-should have terms coinciding with that of the President who appoints them. Nixon recently went out of his way to ask Board Chairman William McChesney Martin to stay on, even though Friedman argues that the board under Martin has been wrong too often. Friedman now hopes that the chairman will retire before his term expires on Jan. 31, 1970. By law, Martin cannot be reappointed. Says Friedman: "It would be a very good thing...
...Worms. Through their non-bank subsidiaries, the holding companies are at least theoretically free to spread far afield - into retailing, manufacturing, transportation or whatever else looks profitable. That possibility plainly wor ries the Federal Reserve Board. Says Chairman William McChesney Martin: "This is a real can of worms. It can affect the whole capitalistic system in the U.S. The line between banking and commerce should not be erased...
Last week Federal Reserve Board Chairman William McChesney Martin, using an analogy of which he is fond, likened the economy to an automobile that has merely cut its speed from 90 m.p.h. to 70-still much too fast for safety. "Business at present has a strong inflationary bias," Martin said. If prices keep on shooting up at their 4½%-a-year rate, he added, the Reserve Board may even feel forced to return to a tighter money policy. Commerce Secretary C. R. Smith warned that unchecked inflation could "reduce us to a second-class trading power" by pricing...
...Renton plant. Then everybody got aboard two 20-car Union Pacific special trains for the long run to Sun Valley, Idaho. There, behind closed doors, they took part in two days of serious talk about world monetary problems. The world's top central banker, Chairman William McChesney Martin of the Federal Reserve Board, joined the discussion...