Word: cautiously
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Dates: during 1960-1969
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...long-term interest rates without affecting short-term levels-a trick his predecessors thought impossible without new laws. The ruling: bonds could be sold at less than their face value, thereby automatically hiking the interest rate. Beyond that, by establishing friendly, first-name relations with William McChesney Martin Jr., cautious boss of the Federal Reserve Board, Dillon smoothed the path for the Reserve's new policy of buying long-term Treasury notes and bonds rather than just short-term bills. At Dillon's direction, Under Secretary Robert Roosa has begun discussions with Europe's central banks...
...need for such laws arose almost half a century ago, when physicians unwittingly created ari army estimated at 250,000 addicts by too freely prescribing morphine as a painkiller. After possession of nonprescription narcotics was made a crime, the law cracked down so hard on prescription peddling that cautious physicians began to turn away addicts appealing to them for treatment. They still...
Some of the best U.S. friends in Latin America were made nervous and cautious. One indication of hidden danger was in Venezuela, where President RÓmulo Betancourt, champion of the anti-Castro left, felt forced to cancel a session of the U.N. Economic Commission for Latin America, scheduled to meet at the volatile University of Caracas. And to many of the credulous among the Latin American peasantry, as among Cubans themselves, the bearded Fidel Castro now seemed more of a hero, able to stand up to the Yanquis...
...Cautious Forecast. The chief fear among Government planners is that the recovery will be as moderate as the recession, which was the mildest since World War II (gross national product dropped less than i%). Now they anticipate, at least for 1961, even less of an upturn than the one that followed the 1958 recession, when the G.N.P. jumped $50 billion in the year after the recession ended-but still got poor marks for vigor from the economists. In a cautious economic fore cast, Government economists predict that the G.N.P. will rise from its present estimated $500 billion...
Advised to be more cautious, the builders only step up their selling campaigns. Agents scour the North selling lots for retirement homes at $10 down, $10 a month. Other builders have launched a campaign to convince Northerners that they can afford a second home in Florida. General Development President Frank Mackle Jr. will sell a furnished house in his Port St. Lucie Country Club development for an average down payment of $5,200. When the owner is up North, Mackle rents it to tourists, puts the rent toward the mortgage. Says he: "We are not selling sunshine, climate, or even...