Regional President Speech

Material used lay K. &• Bopp at P.B.A. Simar School Jim« 24-25» 1953 "The 2 3/8's Story" fît» 1952 Annasi Bafort IBB Phila. "ïxercisea in the Debits and Credits of Bank Beaerrea" May 1953 Basineas Review Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Second Annual Summer School Pennsylvania Bankers Association Pennsylvania State College, State College, Pa. June 24-25, 1953 Lecture Notes by KARL R. BOPP Vice President Federal Reserve Bank of Philadelphia WHAT MONET DOES I. Essential Differences between Economic Systems A. The basic economic problems: Who is going to produce hov much, of what, for whom? or how shall we use our resources? B. Alternative answers 1. Authoritarian system: (a) Basic principle: Government dictates the answer (b) Qualifications 2. Competitive market system: (a) Basic principles: Consumer choice operating through profit and loss (b) Qualifications II. The Flow of Money and the Level of Economic Activity A. Major groups of purchases 1. Consumption expenditures or purchases for immediate use 2. Investment expenditures or purchases of new construction, equipment, and inventory 3. Government expenditures B. Income and its use 1. Income: Consuming and saving 2. Saving: Investing and hoarding C. How income and spending can get out of hand D. Gross National Product Since the invasion of South Korea Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 2 - THE RELATION OF FISCAL AND MQNETAiff POLICIES TO BANKS I. Essentials of a Program to Achieve Relatively Stable Economic Growth A. The Congress and Fiscal Policy B. The Treasury and Debt Management Policy C. The Federal Reserve System and Monetary Policy D. Other requirements for stable growth E. Effects of these policies on the local bank and on the banking system II. How to Interpret Federal Reserve Operations A. The mechanics of Federal Reserve operations B. Illustrative cases 1. Pegging and its implications 2. The Refunding of August 1950 3. The Accord of March 1951 C. Some suggestions on sources of information 1. Regular statistical releases 2. Speeches of officials Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1953, June 24). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19530625_karl_r_bopp

@misc{wtfs_regional_speeche_19530625_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1953},
  month = {Jun},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19530625_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}