INFLATION IN AMERICA
WARNING BY FEDERAL RESERVE CHAIRMAN « EVEN NOWJN ADVANCED STAGES” Hf-Z- Press Aeaneiaban—Copyright) (Hep. 7 P-m? WASHINGTON., Pop, 9Mp Mariner s. JBccJes, chairman of the United Stalo, Federal Reserve Board, told toe House of Representatives Banking Committee to-efay that the United States “even now IS to the edvanoed stages of inflation." He said that toe longer corrective action was.postponedthe more severe wguld he the inevitable reactien. Mi- Bgeles advocated that banka should be compelled to neld snectol reserve funds W addition to toeir regular reserves in order to reduce toe amount of money they could tond. , . He repeated recommendations which hp Jwd made earlier for increased Brodurtton, longer working hours, a moratorium PB wage increases, and gie expansion et Government Savings
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Bibliographic details
Press, Volume LXXXIII, Issue 25363, 10 December 1947, Page 7
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123INFLATION IN AMERICA Press, Volume LXXXIII, Issue 25363, 10 December 1947, Page 7
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