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Government seeks higher U S savings bond rate
The Nixon administration urged Congress to raise the interest on U S Savings Bonds from 4 to 5 percent and end the 4 1/2 percent ceiling on long term government bonds sold through money markets. House Banking Chairman Patman warned the move could force a perpetual high interest rate state, while Treasury officials said the higher rate aims to bolster sales without diverting funds from banks.
MENTIONED IN THIS ARTICLE
U.S
Congress
Savera
Savings and Loan Associations
Kennedy
Washington
House Banking Committee
Patman
Treasury
Paul A. Votcker