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BOARD DF GOVERNORS DF THE FEDERAL RESERVE SYSTEM ffice Correspondence Tn Chai raan Eccles Frnm Mr, Carpenter Date sept^r 29 Subject: Attached i s a copy of a iiiemorandum dated September 28, 1944, from Mr. Goldenweiser with respect to the s t a t u s of the System studies on postwar economic problems and p o l i c i e s . The memorandum i s being placed on the docket for consideration a t the next meeting of t h e Board. Attachment. c Z-U91 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM September 28, 1944. To: Board of Governors From: E. A. Goldenweiser Subject: System project on postwar economic problems and policies. I take pleasure in submitting for the Board's information a brief report on the progress of the System project on postwar economic problems and policies. c During the summer months a great deal of work has been done by the various authors and at present preliminary drafts have been completed on about one-third of the topics. Drafts covering another third of the topics are scheduled for completion in a preliminary form during October and the remaining third should be completed by the end of the year. Work on the paper which I myself propose to prepare can not be begun until I have had a chance to go over all of the others, since it is to be in the nature of an introduction and summary. The attached table indicates the present status of the different papers. During the next two months the research staff of the System will need to direct its efforts primarily to work in connection with the project of the Committee on Banking and Credit Policy in order to meet the request of the Open Market Committee that these papers be completed by the next Open Market Committee meeting, which is scheduled for early in December. Consequently, intensive work on many of the other topics will not be begun until after the middle of December and it seems the entire project can not be completed before the .spring of 1945. Every effort will be made to have it in final form by that tine. (Signed) E. A. G, Attachment c STATUS OF SYSTEM PROJECT ON POSTWAR ECONOMIC PROBLEMS AND POLICIES Drafts completed in preliminary form Subject Author Regulation of monopoly, trade restrictions, find other rigidities Howard. Ellis Selective credit controls Carl Parry, C. 0. Hardy Management of the public debt L. M. Piser, D. M. Kennedy Long-time needs of small business E. J. Hopkins, Susan Burr Agricultural developments and policies Committee on Agriculture Financing industrial reconversion and expansion Committee on Financial Aspects of Reconversion Gross national output Volume required for full employment Everett Hagen Price controls and rationing in the transition period Clarence Tow Labor developments and labor policies Wages, hours, and working conditions; labor costs; demobilization and readaptation problems; labor organization and collective bargaining Government policy toward maintenance of employment Kenneth Williams Social security Minimum standards and cyclical significance Oliver Wheeler Public services and public works Health, education, recreation, and similar services; urban rehabilitation, highways, conservation, and similar public works Walter Stettner, Ramsay Wood Federal budget and taxation Richard Musgrave, George Mitchell, Oscar Litterer, H. V. Roelse Drafts expected to be completed during October State and local fiscal problems Expenditures and taxation; inter-governmental relationships (Federal, state, and local) in these and in public services and public works (continued) Committee on State and Local Finance Drafts expected to be completed during November and December c Distribution of output with reference to markets and living standards Frank ft. Garfield International trade, monetary and financial policies Walter Gardner, Howard Ellis Prices, costs, and the incidence of increasing productivity Clayton Gehman Commercial banking after the war Postwar role of central banking Committee on Banking arid Credit Policy Interest rates John Lan^um September 28, 1944-
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