William Martin Jr. Faces Senate Clash Over Fed Power
William McChesney Martin Jr., head of the Federal Reserve Board, defends safeguarding the dollar amid an economic clash with the White House and Congress. Sen. William Proxmire challenges Fed independence as Martin stresses the need to fight inflation with higher rates. Johnson administration pressure and Capitol criticism follow the December rate rise.
MENTIONED IN THIS ARTICLE
Walter Mears
Washington
William McChesney Martin Jr
Federal Reserve Board
Martin
William Proxmire
D-Wis
Fed
White House
Congress
U.S
Wall Street
Johnson
Capitol Hill
Federal Reserve System
Woodrow Wilson
Carter Glass
D-Va
Martin Jr
Martin Sr
Federal Reserve Bank of St. Louis
Wilson
Yale University
St. Louis
New York Stock Exchange
Bronx
Stock Exchange
Camp Croft
S.C
Pvt. Martin
Col. Martin
Cynthia Davis
Dwight Davis
Martins
Export- Import Bank
Harry S. Truman
Truman
the Treasury
Martin Heads Fed Amid Capitol Hill Clash Over Rates
The interview with Martin, head of the Federal Reserve Board, depicts a battle with Rep. Wright Patman over monetary policy. Patman demands easier credit and lower rates, while Martin defends a balanced approach to curb inflation and stabilize the economy. The 4 percent discount rate hike marks the highest in 35 years, signaling cautious financial policy amid partisan crossfire and questions of independence.
MENTIONED IN THIS ARTICLE
Board of Governors
Martin J
Martin
Federal Reserve
Federal Reserve Banks
Capitol Hill
Wright Patman
Patman-Martin
Joint Economic Committee
Patman
Federal Reserve Board
Johnson
C. Canby Balderston
Congress
Fed
Constittion Avenue
Board Head Not Afraid Of Johnson
The board head faces public pressure during a struggle that led to the resignation of Board Chairman Thomas McCabe. Martin, reappointed by two presidents and granted a full 14 year term by Eisenhower, remains a controversial figure whose past remarks on stock market parallels drew attention and provoked fallout with Patman. He later quipped about safe driving as the debate cooled, and a Wyoming note reports Jack Ejking paying a penny postage due on a Texas postcard.
MENTIONED IN THIS ARTICLE
Reserve
Thomas McCabe
Truman
Martin
Dwight D. Eisen
Hower
Marlin
Patman
Palman
Hamburg
Scrooge
Johnson Sees Achievement Of True Brotherhood In Civil Rights
President Johnson views 1965 as a year of progress in civil rights and foresees the next hard step as achieving full fraternity with the white majority. He notes the Voting Rights Act and Civil Rights Act as milestones and expects future legislation to curb jury discrimination while stressing the broader goal of national unity amid Viet Nam casualties.
MENTIONED IN THIS ARTICLE
Johnson
Karl RB. Bauman
Austin
Tex
White House
Watts
Calif
Viet Nam
1966: Another Great Year Ahead for the South
A promotional overview predicts continued growth for the Southern region in 1966. It cites $21 billion invested in industrial projects along Southern Railway lines over six years, creating thousands of jobs, and highlights expanding education and the arts. The piece notes low grain freight rates boosting agribusiness and forecasts $2 billion annual circulation from livestock expansion, urging cooperative effort to make 1966 the best year yet.
MENTIONED IN THIS ARTICLE
South
Southern Railway
Southern
Midwest
Also Mentioned on This Page
William Martin
Guardian of Dollar
Federal
Congressional Joint Economic Committee
William McChesney Martin
Hardwere & Lumber
WARP
Mobley-Bowen Hardware CO
T. H. Gough Lumber CO
Boston Rd
Fox
Watson Corp
Noer-Den
Sparks-Giles Hdw
CORP
Main St
Luiss
Danville Hardware Company
N. Union
Board
Not Afraid of
Sheridan
Wyo
Jack Ejking
Texas
the Register
Denville
Tom Sawyer
Nee Brees
Mississippi
Alabama
Lousieana
South Carolina
Georgia
Southern Railway System
Greater Agri- Business
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