AMERICAN FINANCE
POSSIBLE RISE'IN FEDERAL reserve discount rates
(Jailed Press Assn, by El. Tel. Ooiiyrighi fAustralian Press Association.) (Received March 2-1, 5.5 p.m.) WAHJNGTON, March 22 The possibility of a rise in the Federal Reserve rediscount rates was seen to-night, after ' another Federal Reserve Board attempt to curb Wat) Street?s speculative fijver by •'holding an extraordinary -session with Mr Aid lon and l Governor Harrison of the New York Reserve Bank. The present meeting -was called several warnings had failed to curb speculation, and unless the , “rampage” is called off on Wall Street, it is indicated‘that a battlo may result. During tho meeting to-day New York arid Chicago speculators appoaml frightened, especially tearing that tlic Chicago rate would rise but that has not occurred. Members would not discuss the meeting, which, it k believed, lies 'been held paitiallv as a psychological move: but it is expected that - the Board' will shortly- issue ' another statement if to-day’s meeting does not have the desired effect-.
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Bibliographic details
Gisborne Times, Volume LXIX, Issue 10854, 25 March 1929, Page 5
Word Count
163AMERICAN FINANCE Gisborne Times, Volume LXIX, Issue 10854, 25 March 1929, Page 5
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