Uneasiness Over Growth of Consumer Dest
Eisenhower on Regulation of Instalment Credit
Rapid expansion of consumer credit during the past year has brought expressions of mounting uneasiness from many observers. The uneasiness was reflected in a suggestion by President Eisenhower, in the Economic Report to Congress on Jan. 24, that it would be wise to consider arming the government with standby authority to regulate instalment buying. The President felt that in order to “promote stable economic growth, it would be desirable to increase the influence that the federal government can exercise on consumer credit.” He said: Although the President emphasized that “present conditions do not call for the use of such authority,” he concluded that it was “a good time for the Congress and the Executive Branch ...