Is Weak Money Growth Strangling Economic Recovery?: Hearing Before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Second Congress, First Session, November 6, 1991, Volume 4 |
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annual rate anti-growth policies assets bank reserves banks and thrifts billion BOLTZ borrowers capital Chairman NEAL changes checkable deposits CONGRESS THE LIBRARY consumer cost credit crunch credit growth deficit depository institutions DOMESTIC MONETARY POLICY economic growth expanded M2 fall Fed chooses Fed policy Fed's Federal funds rate Federal Reserve going GRESS growth rate HUNTER increase inflationary lending level of real LIBRA CONGRESS LIBRARY OF CONGRESS loans long-term M2 growth market mutual funds monetary aggregates monetary policy money market mutual money supply growth NEAL OF NORTH nominal GNP growth NORTH CAROLINA percentage points policy mistakes problem RARY rate of inflation real economy real GNP growth recession Reg Q Regulation Q RESS rise September 1991 short-term interest rates small CDs small time deposit strangling economic recovery Subcommittee on Domestic third quarter trend rate U.S. Chamber unemployment rate weak money growth William Poole yield curve
Popular passages
Page 52 - We are particularly cognizant of the problems of smaller businesses, as well as issues facing the business community at large. Besides representing a cross section of the American business community in terms of number of employees, the Chamber represents a wide management spectrum by type of business and location.
Page 52 - Chamber's members are small business firms with fewer than 100 employees, 57 percent with fewer than 10 employees. Yet, virtually all of the nation's largest companies are also active members. We are particularly cognizant of the problems of smaller businesses, as well as issues facing the business community at large. Besides representing a cross section of the American business community in terms of number of employees, the Chamber represents a wide management spectrum by type of business and location....
Page 53 - Vice President and Chief Economist of the US Chamber of Commerce. On behalf of our...
Page 7 - Syron can be found in the appendix.] Chairman NEAL OF NORTH CAROLINA. Thank you.
Page 78 - GNP rap-the sum of the annual differences between actual real GNP and the levels of real GNP on historical trend line-would have been...
Page 80 - I also wish to thank Data Resources, Inc. for providing access to its data bank from which I have drawn the data for this statement.
Page 78 - Bush forecast is correct throufti 19M. the cumulative cost of tuts shallow dip- weak recovery will be more than double the cumulative cost of a 19Q1tke sharp dip stronf recovery, or an averace loss of disposable income of Sl9.ttf per family of four.
Page 78 - ... are instituted, the president's forecast is the best we can hope for. Under the Blue Chip consensus forecast the frowth path of real GNP does not evea manafe to parallel the tO-year trend line.
Page 18 - It is important to recognize that this is not a consequence of too little credit generally, but rather of less credit coming from a strained banking system.