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Downward Rates Face Slower Slide Amid Money Supply Fears
Banks cut prime lending to 18 percent but markets swung as Treasury bills and bonds moved against the rate cut. Economists Timothy Howard and Henry Kaufman warn rapid money stock growth could lift inflation, delaying further rate relief even as consumer spending holds firm in September retail sales gains.
MENTIONED IN THIS ARTICLE
Treasury
Timothy Howard
Wells Fargo Bank
San Francisco
Henry Kaufman
Salomon Brothers
Howard
Dun & Bradstreet
Economic Information Service
David Jones
Aubrey G. Lanston & Son
Wall Street
The
Commerce Department