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jy, March ^, 1947

Press Service
No. Sf

In response to inquiries received at the Treasury today, Secretary
Snyder announced that no changes in the interest rate policy of the
Government at this time are under contemplation. I He cautioned against
any interpretation of recent nev/spaper articles indicating that a rise
ir> rates is imminent. He said that all phasoa of debt management are
under constant study by the Treasury and that there has been no change

in the policy announced by the President in his Budget Message that
"interest rates will be kept at present low levels through continued
cooperation of the Treasury Department and the Federal Reserve System.n
The carried outmethods byunder constant study in interest rate with the
be technical are also which the Government's collaboration policy
Federal Reservi Boayd and others interested in the subject. fPhe Secretary
stated that the Treasury is alert to the Government bond market and the
effect of its financing on bank reserves and the needs of different
classes of investors.