Low Interest Rate Act of 1982

Summary

Low Interest Rate Act of 1982 - Amends the Credit Control Act to repeal the provision of such Act which would terminate credit control authority on June 30, 1982. Makes such authority permanent. Permits the President to authorize the Board of Governors of the Federal Reserve System to regulate and control any or all extensions of credit whenever necessary or appropriate to reduce high levels of unemployment in any sector of the economy, or to prevent or control inflation or recession. Permits the Board, after receiving such presidential authorization, to prescribe limitations with respect to credit for nonproductive purposes. Amends the Credit Control Act to change the title of such Act to the Capitol Availability Act.

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1 official file

• Introduced in Senate

  summary · EN · 13 May 1982

  Open at official source

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