Business Outlook..........: Reserve Board DoesnÛªt Discourage Wall Street
WALL STREETÛªS such a' contrary place! The Federal Reserve Board acts to discourage the stock market. It raises the</br></br>WALL STREETÛªS such a' contrary place! The Federal Reserve Board acts to discourage the stock market. It raises the discount rate from IV2 to 1% percent. It boosts margin r equ irements from 60 percent to 70 percent. So, stocks advance.</br></br>Answer: Obviously, because the board is confident that business is good, that expansion is under way, that the country can afford restraint.</br></br>So Wall Street adds its rubber stamp to that judgment by buying stocks, thus frustrating the ReserveÛªs go-slow warning.</br></br>Sen. J. W. Fulbright (D-Ark.), recently introduced a bill in Congress to have ÛÏIn God We Trust,Û now embossed on all! coins, printed on United States | paper currency.