Abstract

Finance
Harman, S. Palmer | February 3, 1932 issue

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The New York Federal Reserve Bank, which recently reduced by one-quarter of 1 per cent its buying rate for bills of exchange, is believed to have taken the first step in a new easy-money policy. As generally understood, this policy is designed to dovetail with the government's program of aiding banks, railroads, and other distressed institutions through loans to be made by the Reconstruction Finance Corporation. Eventual restoration of public confidence in business and the banks is the aim in view.

See Also:

NEW York Federal Reserve Bank (Company); BILLS of exchange; BANKS & banking; ACCEPTANCES; MONETARY policy; GOVERNMENT aid
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