Word: mcchesney
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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 about 2,000 banks -those that have demand deposits of over $5,000,000. Under it, in two steps this month...
Chaos & Catastrophe. "The economy is moving on a course of rapid expansion," said William McChesney Martin, chairman of the Federal Reserve Board and the man who most of all persuaded the President to seek the surtax. Listing rises in retail sales, personal incomes, housing construction and industrial production, an increase in inventories and order backlogs and a drop in unemployment, Martin found "clear and compelling evidence" of inflation. "An environment of rampant inflation," warned former Treasury Under Secretary Robert V. Roosa, "will afford little opportunity for the considered development of any national policy, domestic or foreign." Roosa forecast economic dislocation...
...businessmen for allegedly rigging the stock of two small companies traded on the American Exchange. Alex C. Caldwell, administrator of the Agriculture Department's Commodity Exchange Authority, which supervises commodity trading, has asked Congress for stricter powers. And no less an overseer than Federal Reserve Chairman William McChesney Martin chose the 175th anniversary celebration of the New York Stock Exchange to warn against suspiciously speculative activity among professional traders, which Martin finds "disquieting." Last week, as market averages reached new highs, Martin sent up another warning rocket, telling the House Ways and Means Committee that there is "an unwarranted...
...Federal Reserve Chairman William McChesney Martin, looking uncommonly cheery, hailed the agreement as a "milestone," U.S. Treasury Secretary Henry Fowler was positively expansive. Said he: "This is the most ambitious and significant effort in the area of international monetary affairs since Bretton Woods...
...authorized the Fed action, Chairman William McChesney Martin, has recently stated that the "main need of the economy" is prompt action by Congress on the Administration's tax plan. Because there is always considerable opposition in Congress against such unpopular tax proposals, it is one that much be hard pushed. Otherwise, the Fed will have to depend on its own monetary solutions. No doubt Congress will reduce the 10 per cent figure to six or eight per cent before voting on it; even at 10 per cent it is no panacea: the tax hike will not eliminate the deficit...