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...shuttle that is to orbit at speeds up to 17,500 m.p.h. was trundled to its lift off site on a massive crawler-tractor that took 7?? hours to creep the 3½ miles from the Kennedy Space Center's immense Vehicle Assembly Building. NASA's delight could be detected as far away as Houston. There, a technician watching the proceedings on television at the Johnson Space Center exclaimed what many felt: "Hey! This is for real! We're back to launching birds again." It has been a long time between shots...
...push interest rates high enough and squeeze hard enough on the U.S. money supply to bring about a recession. In the absence of any effective anti-inflation program from the Carter Administration, says Okun, "the Fed really has only two buttons in front of it. One says, 'Validate 7??% inflation' [by pouring out enough money to permit prices to go on rising at that rate]. The other says, 'Cause a recession.' And there are people I know on the Federal Reserve who feel that validating the inflation would be an impeachable offense...
...throw off Federal Reserve calculations. The necessity of creating at least enough money for the Treasury to borrow to cover budget deficits is one. The strength or weakness of loan demand is perhaps the most important consideration. The Federal Reserve may set an interest-rate target of, say, 7??% to 7??% for Fed funds? which is believed to have been its goal in June. But if loan demand is exceptionally strong, it may have to put out more money than it wants to in order to keep the rate from rising above the upper limit...
...flew to Ismailia on Christmas Day, Menachem Begin was fortified by the Israeli Cabinet's unanimous approval of his peace plans ?approval gained in a 7??-hour closed session of the Cabinet. In his briefcase were the proposals that Begin had discussed with Jimmy Carter the weekend before, though by now they had been refined considerably. Begin's arrival in Egypt, like Sadat's in Israel, was another historic step, though this was no state visit. There was no pomp and ceremony. Only a small group greeted Begin's 707 as it landed at the military airbase...
...actually work? The inventor could find out only by risking his own life inside it. One moonlit night last summer, Bushnell and his younger brother Ezra stealthily took the Turtle out into Long Island Sound for its maiden cruise. Squeezing himself through the hatch (the oaken vessel is only 7?? feet high), Bushnell seated himself on a horizontal beam, seized the tiller with one arm, let in water through a valve at his feet and slowly sank beneath the surface. He then maneuvered the ship forward by turning a crank that spins a two-bladed propeller (the propeller can also...