Federal Reserve Board outlines wartime to peacetime credit policy
The board released its annual report detailing a plan to test the system’s capacity to curb expansion and raise liquidity, proposing Congress amend the reserve act to allow normal maximum credit lines for member banks. It argues higher rates above the max would curb large borrowings and help prevent rapid deflation while stressing credit's role in productive industry.
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Where to Deposit Your Savings
A 1920s Federal Reserve Board report urges absorption of war securities by investors and warns against hoarding. It stresses balance between credit and concrete production, urges efficient distribution, and notes foreign trade credits as a price driver. A bill to limit bank borrowings and raise rates was introduced by Representative Phelan.
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