Federal Reserve Policy Actions: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, First Session ... October 15, 1979 |
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... issue .... Bryant , Ralph , senior fellow , the Brookings Institution Ultimate targets of policy . Two - stage decision procedure .... Flexible or fixed exchange rates Meltzer , Allan H. , Graduate School of Industrial Administration ...
... issue .... Bryant , Ralph , senior fellow , the Brookings Institution Ultimate targets of policy . Two - stage decision procedure .... Flexible or fixed exchange rates Meltzer , Allan H. , Graduate School of Industrial Administration ...
Page 4
... issue . The Federal Open Market Com- mittee , and the 12 bank presidents who were consulted , including those not technically on the Open Market Committee at the mo- ment , were of one mind on this issue : That the risks were far less ...
... issue . The Federal Open Market Com- mittee , and the 12 bank presidents who were consulted , including those not technically on the Open Market Committee at the mo- ment , were of one mind on this issue : That the risks were far less ...
Page 6
... issue . In a sense , the change is in moving from an appraisal of the demand side for money - with the analysis running to what level of interest rates is consistent with the demand for money balances- to more emphasis on the supply ...
... issue . In a sense , the change is in moving from an appraisal of the demand side for money - with the analysis running to what level of interest rates is consistent with the demand for money balances- to more emphasis on the supply ...
Page 24
... issues- is the suggestion that we should I take it from you - seek a bal- anced budget for the coming fiscal year ... issue or develop a responsible fiscal policy , for the chairman of the Federal Reserve earlier in the course of the ...
... issues- is the suggestion that we should I take it from you - seek a bal- anced budget for the coming fiscal year ... issue or develop a responsible fiscal policy , for the chairman of the Federal Reserve earlier in the course of the ...
Page 30
... ISSUE But is the productivity issue of such importance that both on the tax relief side and perhaps even on the expenditure side , research and development and other similar Federal contributions to the programs that contribute to ...
... ISSUE But is the productivity issue of such importance that both on the tax relief side and perhaps even on the expenditure side , research and development and other similar Federal contributions to the programs that contribute to ...
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Common terms and phrases
accounts actions agencies of foreign agency securities Agreement Corporations ahead announced assets bank credit bank reserves borrowings branches and agencies Chairman Volcker commercial banks computation period CONGRESS THE LIBRARY daily average decline deficit dollar economy effect Eurocurrency Eurodollar exchange rates Federal funds rate Federal Open Market Federal Reserve Bank Federal Reserve System foreign banks going growth of money growth rates increase inflationary institutions interest rates issues LIBRARY OF CONGRESS M₁ M₂ marginal reserve requirement maturities of less MELTZER member bank million moderate monetary aggregates monetary base monetary policy money and credit money growth money market money stock money supply months nominal GNP Open Market Committee open market operations original maturities pegging percent problem question rate of inflation recession Regulation D repurchase agreements required to maintain Senator MORGAN Senator SARBANES seven-day short run short-term total managed liabilities Treasury U.S. branches U.S. government
Popular passages
Page 65 - ... any obligation with an original maturity of less than one year that is issued or undertaken as a means of obtaining funds to be used in its banking business in the form of a promissory note, acknowledgment of advance, due bill, ineligible bankers...
Page 65 - Evidences an indebtedness arising from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States or any agency thereof that the bank is obligated to repurchase...
Page 121 - To implement this policy, System open market operations until the next meeting of the Committee shall be conducted with a view to maintaining the prevailing firm conditions in the money market; provided, however, that operations shall be modified if bank credit appears to be deviating significantly from current projections or if unusual liquidity pressures should develop.
Page 57 - Arises from a borrowing by a member bank from a dealer in securities, for 1 business day, of proceeds of a transfer of deposit credit in a Federal Reserve Bank (or other immediately available funds) , commonly referred to as "Federal funds", received by such dealer on the date of the loan in connection with clearance of securities transactions.
Page 50 - The purpose of this action was to better control the expansion of bank credit, help curb speculative excesses in financial, foreign exchange and commodity markets and thereby serve to dampen inflationary forces.
Page 122 - ... the US government, and foreign banks and official institutions less cash items in the process of collection and Federal Reserve float...
Page 44 - This action involves placing greater emphasis in day-to-day operations on the supply of bank reserves and less emphasis on confining shortterm fluctuations in the federal funds rate.
Page 67 - States resident, (2) by a foreign branch which at no time during the computation period had credit outstanding to United States residents exceeding $1 million...
Page 65 - For the purposes of this part, the term "deposits" shall be deemed to include any promissory note, acknowledgment of advance, due bill, or similar instrument that is issued by a member bank principally as a means of obtaining funds to be used in its banking business, except any such...
Page 63 - Act and § 204.2 (a) and subject to paragraph (c) of this section, the Board of Governors of the Federal Reserve System hereby prescribes the following reserve balances which each member bank of the Federal Reserve System is required to maintain on deposit with the Federal Reserve Bank of its district...