The Reagan Administration is putting excessive pressure...

The Reagan Administration is putting excessive pressure on the Federal Reserve Board, including suggestions that it increase the growth of the money supply, the Senate Banking Committee said in a report. “The committee finds that since the time of the stock market crash in October of 1987, the Federal Reserve has come under excessive political pressure from the Administration,” the committee said in its annual monetary policy report. The committee is controlled by Democrats 10 to 9. Four Republicans filed a dissenting report, and the White House promptly denied the charge by the committee’s majority.