Monetary policy myths and the false tight money claim
Louis Rukeyser argues that the U S monetary policy is far looser than Washington chatter implies and that inflation, not tight money, drives high interest rates. He cites M1 M2 and base expansion, Volcker's rate moves, and rising business loans to show demand and inflation keep rates high. He urges clearer thinking and looser cliches from officials.
MENTIONED IN THIS ARTICLE
New York
Washington
U.S
Fellows
Federal Reserve Board
Eather
Australia
North Atlantic
Paul Volcker
Volcker
Ebenezer Scrooge
First Maryland Bancorp reports record earnings for 1979
First Maryland Bancorp announces historic earnings for the second quarter and first six months of 1979. Income before securities transactions climbs to 4 63 000 or 1 24 a share for Q2, with net income 34 525 000 or 1 2 per share after securities. Six months show 8127 080 or 2 44 per share before, and 2 907 0 0 or 2 05 per share after. Growth driven by volume and higher rates. Deposits rise to 6906 370 680, loans and leases receivable 1 387 3 680, equity 114 057. Merger of Sharpeturg Bank of Washington County into First National Bank of Maryland completed June 1.
MENTIONED IN THIS ARTICLE
Maryland Bancorp
Maryland Baocorp
Securities Transactors
Securities Tran Sectons Prt Incomie
Ube
Iona
Stock market mixed as Dow dips after rally fade
Market edges lower after Tuesday rally driven by dollar speculation fades. Dow Jones industrials down to 65.15, volume eases to 36.47 million. Gold plunges to about 402 per ounce in London fix, with mixed NY bank stock moves and FTC ruling against Horizon in land sales. Home operating costs soar about 150 percent in a decade as maintenance, insurance, taxes and utilities drive expenses higher.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Wall Street
London
Gist Daestay Heptane
Homestake Wn
P.t
ASA Ltd
Day Mines
American Stock Exchange
Horizon Corp
Federal Trade Commission
Horizon
NYSE
Exchange
Standard & Poor
S&p
Also Mentioned on This Page
Ive Company
Frederick Trading Co
Frederick Fairgrounds
Maisey Brothers
Glen Burnie
Haines Hardware
Bunker Hill
W. Va
Metz Hardware
Fairfield
Kitty Reed
Frederick County Chamber of Commerce
Louis Rukeyser
First Maryland Bancorp
Sharpeurg Bank
Weehington County
Sharpeturg
First National Row of
Maryland
the News
Frederick
Weednesday
Dow Jones
Allg Pw
Bethsdae
Black Dr
Chessie
Clorox
CocaCl
Exxoo
Fairchild Ind S
Fedders
H Fintkt
A&p
Gulf Ol
Tandy
Texaco
Warner L
Whittak
Dons
Robert Hooper
Baker, Watts & Co
Glick
Francis Scott Key Mall
Buckeystown Pike
N. Market
Shop Eyerly's
Frederick Towne Mall
Everly's
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