Word: briefings
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Dates: during 1980-1989
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...back?" For four months, until the replacements came, you had been part of the multinational peace-keeping force in Lebanon, you and 4,000 other Marines and sailors. The Navy brought you back on five ships by way of Key West, where you were to have a fleetingly brief liberty before returning to base...
...previous mission, only 21 by preliminary count. (There were 42 anomalies on the last shuttle flight, in April.) Two of these, however, played a part in the decision not to prolong the flight another day or so in hopes of homing in at Kennedy. They involved some brief, balky behavior by one of the shuttle's three auxiliary power units (APUs). The small engines provide the hydraulic pressure for operating the craft's landing gear, flap, braking rudder and other flight-control systems. The APUs have been troublesome on previous flights...
...reception we were given by the base leader, who is known as "Zero Three," was brief and faintly hostile, as if we were not only diverting his men from more urgent tasks but, as Americans, were in some way responsible for their predicament. The encampment had come under direct attack only three days before in an eleven-hour shelling siege, and Zero Three announced that two battalions of perhaps 1,500 Nicaraguan troops still surrounded them on three sides, leaving open only the mountainous retreat into Honduras. "This place is now dangerous," he said. "They have helicopters, mortars and troops...
Volcker is aware of the dangers. In response to a brief but very strong recession in the spring of 1980, the Federal Reserve panicked and expanded the money supply far too fast. G.N.P. growth surged to a 7.9% rate in the first quarter of 1981, but inflation roared above 10%, and Volcker was forced to slow money growth, boost interest rates and send the economy back into recession. Now that the money supply is rising rapidly again, some economists fear the Federal Reserve is making the same mistake it did in 1980. Says Lacy Hunt, chief economist with the Carroll...
...controls are in prospect, but the length and strength of the current expansion will depend upon how well the White House, Congress and the Federal Reserve Board contain prices. If they succeed, the recovery could be a long waltz instead of a brief flashdance...