Indeed, when the New York Fed’s board of directors voted to increase rates...
Citations (2)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
Indeed, when the New York Fed’s board of directors voted to increase rates between February and May 1929, Mitchell objected.13 McGarrah supported Mitchell, and on May 31 he upped the ante. He told the Federal Reserve Board that “it may soon be necessary to establish a less restricted discount policy in order that the member banks may more freely borrow for the proper conduct of their business.
chapter: Chapter 6: The Early 1930s: Tenuous Times, Tax-Evading Titans
- The Warburgs: The Twentieth-Century Odyssey of a Remarkable Jewish Family whole source · open book
When the New York Fed finally hiked interest rates in August 1929, Paul thought it had acted at least half a year too late.
chapter: 22 - A Stranger in Paradise