Installment Credit

Archive Report

Federal Controls on Instalment Credit

The Course of business activity in the spring of 1949 may determine whether or not Congress extends the authority of the Federal Reserve Board to impose controls over the terms of instalment purchases of automobiles and of certain other consumer goods. If business continues to slacken, complaints about the retarding effects of existing credit restrictions may increase to an extent that will influence Congress to let the present powers lapse when they expire by limitation on June 30. If, on the other hand, there is an early and definite resumption of the postwar boom, Congress may well decide to rearm the Federal Reserve Board with authority to put brakes on the expansion of instalment credit and thus to combat inflationary ...

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