Regional President Speech

Prepared ly K. R. Bopp for use at Seminar on "Monetary Policy11 at Lehigh University. Bethlehem. Pa. on. November 9. 1956, ¿:10 p.m. ALTERNATIVE OBJECTIVES AND RELATED PROGRAMS Conditions requiring Conditions requiring Objective or permitting an or permitting a Inherent Bias easing of credit tightening of credit 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 4. Productive Increase in monetary Decrease in monetary Chain- credit volume of output volume of output reaction 5• A fixed rate When savings are When savings are Chain- of interest inadequate excessive reaction Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Some Relevant Economic Magnitudes Index Millions of Persons Billions $ Per cent 3 Discount Rate P.R.B.- New York I - Treasury Bill Rate » » » » I »I I » I I 1 1 M I I M I M I 1 1 1 I 1 I I 1 t 11 1 1 I LI L1.J I I I 1 1 1 M 1 Ll 1_L 1 LI. 1952 1953 195*+ 1955 1956 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1956, November 8). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19561109_karl_r_bopp

@misc{wtfs_regional_speeche_19561109_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1956},
  month = {Nov},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19561109_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}