United States Monetary Policy: Its Contribution to Prosperity Without Inflation

activity amount bank credit bank deposits billion boom borrowing capital cash cent central bank changes commercial banks consumer credit consumption cost currency debt management deflation demand for money discount rate dollar economic growth effect employment excess expansion expenditures Federal Reserve Act Federal Reserve Bank Federal Reserve Board Federal Reserve System financial institutions fiscal policy funds government securities gross national product increase industrial inflation inflationary interest rates inventories investment labor lending liquid assets loans long-term member bank reserves ment monetary authorities monetary control monetary management monetary policy monetary restraint monetary system money balances money supply national income nominal money objectives open market operations output payments period postwar pressure price level price stability quantity of money recession reduce regulation reserve position reserve requirements restrictive rise savings sector selective controls selective credit controls short-term spending supply of money tion Treasury bills velocity volume wage