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t.1.3 R-891 STATElVJENT FOR THE P::ESS For release in morning newspapers of Wednec.:day, September 24, 1941. In colli~ection September 23, 1941. with the action taken today by the Board of Governors of the Federal Reserve System. to incr:.;ase reserve requirements, the Secretary of the Treasury and the Chairman of the Board issued the follmving statement in which the Board of Governors concurs: "The Treas'J.ry and the Board of Gov0rnors will continue to watch the economic situation and to cooperat,:- with other agencies of the Government in their efforts, through priorities, allocations, price r&gulation, and otherwise, to fight inflation. Reco:nmendati.ons on the question of what additional powers, if any, over bank r.;s0rves tne Board should have during the present emergency and what form these powers should· take will be made whenever the Treasury and the Board, aftor further consultation, determine that such action is necessary to help in combating inflationary developments."
@FedFRASER