The Carter Administration recently outlined its economic strategy for 1979 and 1980 and also addressed some of the longer-term economic problems that will face the United States in the early 1980s.
Most states set maximum limits on interest rates that lenders may charge on residential mortgage loans. In recent years several states have raised their usury ceilings, eliminated usury ceilings entirely, or adopted floating ceilings that change periodically as other interest rates change.
This article examines, in a relatively non-technical fashion, the announcement effect of discount rate changes on the foreign exchange value of the dollar in 1978.
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