Word: tightening
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...Bring me that helmet there," directed another polo princeling, "and tighten the strap...
...borrowing was the fact that Secretary Anderson did not issue any bonds. He thought the market was too shaky to sell them at a reasonable price. By selling only short-term securities, he is bound to ease credit at a time when the Federal Reserve Board is trying to tighten it. Normally, most of the short-term securities sold by the Treasury are bought by commercial banks that, in turn, can use them as collateral to borrow from the Federal Reserve to make additional loans, thus increase credit all around. However the Treasury is hopeful that most of the securities...
...most capitals Chou's message and the U.S. response evoked sighs of relief. But one stern voice continued to remind the world that if Peking had indeed decided to loosen the screws for the time being, it would surely tighten them again one day. Asked what he thought Red intentions in the Formosa Strait really were, Chiang Kai-shek replied: "Their ultimate intention is to seize Taiwan...
...Federal Reserve Board alowed a few more steps last week to tighten credit (see State of Business), more and more Wall Streeters wondered whether the FRB can control a new inflationary upsurge as well as it did during the 1955-57 boom. How widespread these doubts are was reflected in the stock market, where stock prices during the week rose to a new high for the year. Wall Street was highly skeptical about the power of the FRB because, in trying to control the new inflation it fears, the FRB is up against a big problem it did not have...
...speculative binge that had boosted the price of U.S. bonds (TIME, June 30). Many, gambling on a continued rise, bought the new bonds with nothing down. But in June it also became plain that the recession had hit bottom and the FRB might have to tighten credit. Bond buyers saw the promise of higher interest ahead and dumped their holdings. The speculative bubble burst. As prices fell, the yields reached as high as 3! on Government bonds. The Government bond market turned so weak that when the Treasury floated a $16.3 billion issue of one-year certificates...