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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Mar 20, 1973
Page
12
Senate urged to roll back the prime rate banks raised to 6 percent in three months. Sen. Thomas McIntyre pushed an amendment to extend wage and price control powers, arguing quicker action is needed before the Nixon administration acts.
Burns urged banks to send representatives to Washington to present up to date cost data justifying the announced prime rate rise. He signaled the government may again press the banks to hold or lower the rate, as administration discussions continued after several banks increased last month.
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