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Tight Money May Continue To Be Progress Hazard
Washington AP Chairman William McChesney Martin Jr. predicted the Federal Reserve would keep a tight money policy through 1969, arguing restraint on credit slows the economy despite stock market declines. He acknowledged misjudging impact of the 1968 tax surcharge and warned further slowing seems likely until midyear, with a revived consumer demand afterward.
MENTIONED IN THIS ARTICLE
Washington
William McChesney Martin Jr
Federal Reserve Board
Martin
Senate
House Economic Committee