Word: board
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Dates: during 1970-1979
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...figure on this week's cover was little known a month ago, but, says Washington Economic Correspondent William Blaylock, "last week he seemed to eclipse every other newsmaker in the capital." Indeed, by announcing a tough new set of monetary measures, Federal Reserve Board Chairman Paul A. Volcker grabbed international attention and sent stock and money markets reeling around the globe. This week's cover story, written by Associate Editor Christopher Byron, examines both the hectic financial events of last week and the bold "Volckernomic" policies that triggered them...
...session loss since January 1974, when the last recession was pushing the nation into its steepest economic slide since the Great Depression. The very next day, as worried investors around the country hurried to unload their falling stocks, a record 81.6 million shares were sold off on the Big Board in such a headlong rush that the ticker tape reporting transactions and prices fell as much as 63 minutes behind the pace of trading. "This thing is feeding on itself," fretted William LeFevre, vice president at one Wall Street brokerage house. "Each decline triggers another batch of people who have...
...prices were hammered by news of a sharply falling dollar abroad and worsening inflation at home, the Dow sank by a half point more, but on a much smaller volume of trading. The number of shares that changed hands last week, some 250 million, was the largest in Big Board history...
...Corporation this week named Andrew Heiskell, chairman of the board of Time, Inc. and president of the Harvard Board of Overseers, to be a Corporation member...
Harvard joined that crowd last week, after the Federal Reserve Board announced a new anti-inflation program that set off a Wall Street selling spree...