Norman urges the Fed to break the market

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• Lords of Finance whole source · open book

  He arrived in New York on January 27 armed with his new proposal. Meeting with Harrison at the New York Fed, Norman now surprised everyone by arguing for a sharp rise in U.S. rates, possibly by 1 percent, even by 2 percent, taking the discount rate to 7 percent.

  chapter: 16. INTO THE VORTEX - 1928-29

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• Montagu Norman mentioned

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