Diary Entry - 05/04/1981
Key Facts
President Reagan meets with 28 Democratic Representatives to discuss the bipartisan budget resolution.
Continuing a "tight money" policy to curb inflation, the Federal Reserve Board headed by chairman Paul Volcker raises its discount rate, the interest rate on loans to commercial banks to 14%.
President Reagan orders the closing of the Libyan embassy in Washington after one of their officials is linked to a terrorist killing.
A half day in the office meeting with 4 groups of Demo. Congressmen (28 in all) Good meetings and I have an optimistic feeling we’re going to get our bill. It was a beautiful spring day. We lunched in the solarium & then I sun bathed for about an hour. Heard from Haig & Dick Allen—approved closing the Libyan embassy here. One of their officials linked to a terrorist killing in Chi. Our embassy there was burned down & there has never been compensation or rebuilding.
