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Johnson targets mortgage money to revive crippled housing
President Johnson directs Treasury to press Banking Committee for relief in the mortgage market. Fowler and Barr tour Capitol Hill to push a plan giving the Fed power to cap small savings and set rate limits on savings and loan investments to spur housing finance. The move signals a broader struggle between the White House and the Federal Reserve over monetary policy and inflation.
MENTIONED IN THIS ARTICLE
Washington
Johnson
Secretary of the Treasury
Henry H. Fowler
Texas
Treasury
House Banking Committee
Wright Patman
Federal Reserve Board
Fowler
Barr
Capitol Hill
Fed
Congress
Home Loan Bank Board
Savings and Loan Associations
Savings and Loan Outfits
Savings and Loan
California