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White House pressure on Fed over discount rate cut
The article argues the White House did not force the Federal Reserve to cut the discount rate, noting Volcker and Reagan appointees supported unilateral action. It discusses timing, potential pressure, market expectations, and future influence as Volcker nears departure.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
White House
Fed
Donald T. Regan
Wall Street Journal
Volcker
Reagan
Japan
West Germany
Paul Volcker
Regan
U.S