Word: beene
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Dates: during 1970-1979
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The Fed's change of strategy had been in the works since Sept. 29. On that date, Volcker and Treasury Secretary Miller met with their West German counterparts and Chancellor Helmut Schmidt in Hamburg as part of a series of continuing huddles that grew out of the now faltering dollar...
Admirers of the "Volcker package," is European central bankers are already calling the Fed's moves, praise it mainly for the promise it holds that the U.S. will be able at last to control the availability of credit, as opposed to just its cost. After a full decade of high...
His prediction proved correct. As an unseasonable October snowfall swirled outside, a far fiercer storm began to rage inside the exchange. Only minutes after trading opened, brokers were deluged with orders to sell. By the time trading had been under way for an hour, everyone realized that the rush was...
Even on a routine and relatively quiet day, the floor of the New York Stock Exchange is like an anthill that has been suddenly kicked open. Men in suits from Brooks Brothers and F.R. Tripler move briskly from booth to trading station, clutching slips of paper. Clerks in blue and...
By early afternoon, the market was down 20 points and the tape, which had already been delayed half a dozen times, was running nearly half an hour behind the trading. As it did so, the tension increased. At one booth, a cheer went up as a stock that had been...