Inflation and Recession: Are High Interest Rates the Cause Or the Cure? : Hearing Before the Committee on the Budget, United States Senate, Ninety-sixth Congress, First Session, Nashville, Tenn., November 3, 1979

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Page 12 - Chairman, members of the Committee. It is certainly a pleasure to be here...
Page 23 - ... the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association purchases in the secondary mortgage market.
Page 10 - Instead of trying to restrain demand for essential goods, such as housing, by imposing tight and expensive money policies, the administration and the Congress should pursue the appropriate mix of fiscal, tax, and monetary policies that would reward increased productivity, encourage investment by business and saving by consumers, reduce unnecessary and costly Government regulations, and eliminate...
Page 27 - ... more vulnerable to speculation in international currency markets. In response to these circumstances, the Federal Reserve sharply tightened credit conditions last month. It took three separate actions. First: The discount rate — the interest rate the Federal Reserve charges its member banks — was raised a full percentage point to 12 percent.
Page 3 - Senate. Committee on the Budget. Inflation and recession : are high interest rates the cause or the cure? : Hearing before the Committee on the Budget, United States Senate, Ninety-sixth Congress, first session, Nashville.

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