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Anti-Inflation Bill Of GOP Put Through
The GOP substitute for President Truman’s anti inflation program cleared the House Banking Committee. It calls for time limits on war buying and aims to stimulate lower cost home production. The measure differs from the Truman Taft Elmerlender Wagner bill, which included government financed public housing for low income persons. The committee bill rejects active price and rationing and sets a $4 300 limit on consumer purchases, payable in 15 months. The Fed may adjust reserve requirements for time deposits and central reserve city banks through March 31. Federal Reserve limits on gold deposits and reserves are outlined.
MENTIONED IN THIS ARTICLE
Washington
GOP
Truman
House
RliCarthy
House Banking Committee
Federal Reserve System