ari CONDUCT OF MONETARY POLICY * - MAR 29 1977 HEARINGS BEFORE THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS HOUSE OF REPRESENTATIVES NINETY-FIFTH CONGRESS FIRST SESSION 84-209 O FEBRUARY 2, 3, AND 4, 1977 Printed for the use of the Committee on Banking, Finance and Urban Affairs U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1977 HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS HENRY S. REUSS, Wisconsin, Chairman THOMAS L. ASHLEY, Ohio WILLIAM S. MOORHEAD, Pennsylvania District of Columbia STEPHEN L. NEAL, North Carolina PAUL E. TSONGAS, Massachusetts CLIFFORD ALLEN, Tennessee NORMAN E. D'AMOURS, New Hampshire BRUCE F. VENTO, Minnesota WES WATKINS, Oklahoma J. WILLIAM STANTON, Ohio HENRY J. HYDE, Illinois RICHARD KELLY, Florida HAROLD C. HOLLENBECK, New Jersey PAUL NELSON, Clerk and Staff Director WILLIAM P. DIXON, General Counsel GRASTY CREWS II, Counsel MERCER L. JACKSON, Minority Staff Director GRAHAM T. NORTHUP, Deputy Minority Staff Director (II) 2677 4E24 Blumenthal, Hon. W. Michael, Secretary of the Treasury- Burns, Hon. Arthur F., Chairman, Board of Governors of the Federal 148 81 Francis, Darryl R., former president, Federal Reserve Bank of St. Louis_- Lance, Bert, Director, Office of Management and Budget__-- Samuelson, Dr. Paul, Institute Professor, Department of Economics, Massachusetts Institute of Technology, Noble Laureate in Economic 140 Tobin, Dr. James, Sterling Professor and Chairman, Department of 136 ADDITIONAL MATERIAL SUBMITTED FOR THE RECORD Response to question of Hon. Chalmers P. Wylie__. 44 Brown, Hon. Garry, editorial submitted entitled, “Keynes Is Dead," from the Wall Street Journal of January 31, 1977-- Brunner, Dr. Karl, prepared statement. 99 153 Response to question of: Hon. J. William Stanton re electronic fund transfer system and Hon. Paul E. Tsongas re the administration's proposed economic Lance, Bert : Prepared statement.. Response to questions of: Hon. Stewart B. McKinney- Hon. Paul E. Tsongas---. Samuelson. Dr. Paul, prepared statement 144 Stanton, Hon. J. William, article submitted entitled "For the Bond |