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Credit Easing Rates Move in United States
The Federal Reserve Board cut the discount rate for New York and Philadelphia banks from 2% to 2% percent, effective in New York, Philadelphia and Chicago tomorrow. The move aims to ease credit and spur recovery amid a deepening business recession, with other districts likely to follow. Congressional leaders Johnson and McCormack pushed broad public works and faster spending as lawmakers seek relief for millions unemployed, including a proposed housing bill for 1.85 billion dollars and highway spending proposals. Additional protests and plan refinements from Senate committees were expected soon.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Congress
New York
Philadelphia
Federal Reserve System
Federal Reserve
Chicago
San Francisco
Lyndon Johmson
Senate
Eisenhower
Texas
Johnson
Russell Deal
Armed Services
Chavez
C-Nm
Puhite Works
Rep. McCormack
Massachusetts
House
Johnson-McCormack
Federal Reserve Action
Senate Banking Committee
Sen. Gore
Sen
Revercomb R-W. Vat