TRUMAN SIGNS THE ANTI-INFLATION BILL; SAYS IT IS “FEEBLE”
Recd. 6.55 p.m. Washington, Aug. 16 President Truman today signed the Republican Anti-Inflation Bill, describing it as “feeble” and warning “unless inflation is checked the situation will get worse and we shall invite economic collapse.” The Bill is designed to put the brakes on easy credit. It authorises the Federal Reserve Board to: (1) Reimpose wartime restrictions on time-payment buying and other forms of consumer credit; (2) raises the reserve requirements of the Federal Reserve member banks in order to reduce their lending capacity. President Truman had asked for more comprehensive anti-inflationary measures.
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Wanganui Chronicle, 18 August 1948, Page 5
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102TRUMAN SIGNS THE ANTI-INFLATION BILL; SAYS IT IS “FEEBLE” Wanganui Chronicle, 18 August 1948, Page 5
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