Volcker faces challenge to seven year policy grip
Washington AP notes Fed Chair Paul Volcker may be losing clout as four Reagan appointees join a 4-3 vote to cut the discount rate from 7.5 to 7 percent. Officials say he delayed action to coordinate with other nations. a split vote marks his first policy overrule in seven years, prompting speculation about his term.
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Less Visible U S Currency Redesign Draws Criticism
Washington AP reports the Treasury unveils a subtle currency redesign to deter counterfeiting, adding a plastic security thread and microprinting that require magnification to read. Critics in Congress say the changes are too faint and demand magnifying glasses for the public.
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House Banking
America
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