Federal Reserve Board Governor Wayne Angell said the Reagan appointed majority on the board was not at odds with Chairman Paul Volcker on whether interest rates should rise to support the dollar. I would anticipate very little difference between the chairmans position on price-level stability - and on the view of the dollar in foreign exchange markets - and my own Angell said in an interview with the New York Times. And I would also see very little difference in (Governor) Manley Johnsons position and my own he added. The newspaper said Angell was speaking in response to inquiries concerning a report by syndicated columnists Rowland Evans and Robert Novak that Volcker was ready to raise rates to defend the dollar but that he was being thwarted by the four Reagan appointed members on the board. Angell told the newspaper that there was no evidence of disagreement on the board and that anyone who should suggest there is one might be reaching pretty far.
FED'S ANGELL SAYS BOARD IN HARMONY ON RATES