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
U.S. Government Printing Office, 1980 - Electronic books - 50 pages
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14 percent actions American annual Association auto automobile average balance bank become billion borrow budget Builders building capital cars caused certainly Chairman coming Committee concerned Congress construction consumer continue cost create dealers deficit demand economy effect energy fact Federal Government Federal Reserve Board figures financing fiscal floor plan force funds give going grocery hearing high interest rates higher housing impact increase Index industry inflation inflationary inventories investment less loan look means meet monetary policies months morning mortgage Nashville Neely operating past percent period present president problems productivity profit purchase question raise recent recession reduce regulations result retailers running savings sell Senator Sasser small business spending starts STATEMENT supply Tenn Tennessee Thank thing tight money tion trade trying unemployment unit views
Page 12 - Chairman, members of the Committee. It is certainly a pleasure to be here...
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.