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外语
Passage Seventeen (A Strong Stock Market)
The increase in the margin rate from 50% to 70% was not an attempt to stem any rampant speculation on the part of the public-actually the market seemed technically quite strong, with public participation essentially dignified-but rather an attempt by the Federal Reserve Board to preserve the sound underpinnings that existed in the market. Naturally, such a move had a momentarily chilling effect upon prices but if the FRB had been preoccupied with undue speculation, the increase might have been to the 80% or even 90% level. Such an increases in the margin rate is a confirmation of a strong stock market and since 19…,such increases have resulted in interim market highs over twelve months later. Obviously, there could be no guarantee that this would once again be the case, but if history is any guideline-and if business and corporate earnings were to continue on the same course-continued optimism over the outlook for the stock market would seem mo
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教育科学