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The monetary brakes are still not as tight as they could be. The nation's money supply for the past several months has been expanding at an annual rate of almost 7%, faster than the real growth in the economy. The Federal Reserve Board could not reduce the rate of monetary expansion without disrupting the nation's economy, if only because the demand for capital is so intense. Thus the board has little room to tighten money further without kicking up the discount rate once again. That is a step which a majority of the board opposes, partly because it would stir up a political tempest, and partly because quite a few financial men recognize that the upward pressures on the economy are easing.