Deflater. The Federal Reserve Board took another cautious step to curb inflation. It raised reserve requirements (i.e., the portion of demand deposits which cannot be used for loans) in New York and Chicago commercial banks from 20% to 22% beginning Feb. 27. In effect, an additional $500-odd million will be put into cold storage, thus shrinking credit. FRB is expected to raise reserve requirements gradually in the two big money centers to the present legal limit of 26%.
Inflater. Chicago's Leaf Brands, Inc. began marketing bubble gum in colorsred, yellow, blue. By chewing two or three pieces...
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