Word: mccabe
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Last week the President also: CJ Decided to take another look at the inflationary dangers of Treasury Secretary John Snyder's "easy-money" policy (TIME, Feb. 19). He conferred with Under Secretary of the Treasury Edward Foley. Mobilizer Charles Wilson and Federal Reserve Board Chairman Thomas McCabe and requested a full review of the whole credit problem. Wilson promised a report within two weeks...
...Declared he had not yet received a letter from Federal Reserve Board Chairman Thomas McCabe (sent a fortnight ago), questioning Truman's expressed "understanding" that "the market on Government securities will be stabilized and maintained at present levels" (TIME...
Help or Hurt? Next day FRB's Chairman Thomas B. McCabe read everyone a lesson on the theory and practice of credit controls. First off, said McCabe, Regulation W was doing just exactly what it was supposed to do: "It has limited the rise in prices in the durable goods field [and] has removed some of the pressure which would have hampered diversion of materials and manpower to the military effort." In the first few weeks of the Korean war, said McCabe, the average price of 1949 used cars in the popular-price lines rose from...
What was needed, said McCabe, was not a lessening of credit controls but a tightening. FRB was already considering a clampdown on charge accounts, bank loans and other inflationary influences...
Clav 9--Aloysius B. McCabe...