FISCAL: Bucket Brigade

For another three or four weeks at least, Harry Truman and many businessmen can agree on one thing: let's not have any direct price, wage and rationing controls. In the meantime, the big question on the minds of politicians, economists and bankers is: Can credit restrictions and other fiscal controls effectively head off rising prices?

The Federal Reserve Board, and notably Board Member M. S. Szymczak, thinks that indirect controls, if wisely and quickly used, can do the job. Szymczak, long a spokesman for moderation in Government attempts to control the economy,...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!