Regional President Speech

Outline of Lecture on FEDERAL RESERVE POLICY lay KARL R. BOFP Vice President, Federal Reserve Bank of Philadelphia before the Graduate School of Banking Rutgers University, New Brunswick, N. J. June 15, 1956 I. Review of Extension Problem on the Federal Reserve II. Objectives of Policy and Related Programs of Action A. Specific objectives and their implications Conditions requiring Conditions requiring Objective or permitting an or permitting a Inherent Bias easing of credit tightening of credit 1 T 1. Stable price Declining prices Rising prices level 2. Full employment Less than full Jobs in excess of Expansive employment workers 3. Convertibility High and/or rising Low and/or declining Contractive primary reserves primary reserves U* Productive Increase in monetary Decrease in monetary Chain-reaction credit volume of output volume of output 5. A fixed rate of When savings are When savings are Chain-reaction interest inadequate excessive B. Reconciliation of conflicts Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 2 - III. Methods of Influencing Conditions in the Credit Markets A. The discount rate and discount administration B. Open market operations C. Regulation of reserve requirements D. Selective credit controls IV. Effects of Federal Reserve Policies on Commercial Banking V. Federal Reserve Policy in Operation Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1956, June 14). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19560615_karl_r_bopp

@misc{wtfs_regional_speeche_19560615_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1956},
  month = {Jun},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19560615_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}