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This newspaper page contains 2 articles. Subscribers can read the full text of each article.
Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Oct 26, 1975
Page
15
The excerpt notes that if Congress enacts a tax cut the Fed can meet to plan bond sales to drain credit, a power seen as undermining tax benefits. It cites Darryl Francis of the St. Louis Fed arguing the board creates excess money causing inflation and higher interest rates.
Proxmire and Reuss push to expose money supply decisions to public scrutiny amid recession. Burns faces criticism as Congress weighs tighter oversight after a milder resolution requires the Fed to report quarterly targets to the House and Senate Banking committees.
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