Question

TRUE OR FALSE QUESTIONS:

1. In a long letter to Fed Governor Harding in late December of 1920, Comptroller Williams argued that the interest rate had to be maintained for at least another six months. 2. Harding replied to Williams' letter, in part, by noting that if Chase was in trouble, as the banks' regulator it was his responsibility as Comptroller and not the Fed's.

Answer 1

Answer)

1. Given statement is false,Comptroller Williams argued that interest rates should be reduced in his letter to Fed Governor Harding in December 1920,he bought a proposal as well in board meeting which was defeated 5-1 in board meeting,thus the given statement is false.
2. Given statement is true,on 13th January,1921,Harding wrote to Williams that he was surprised at the condition of Chase under supervision of Williams and Williams should have pointed out the discrepancies at an earlier date,as a national chartered bank it falls under Comptroller supervision and they should have examined its condition and pointed out the flaws.So given statement is completely true.

Answer is complete.Thank you!