Word: centralizes
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Dates: during 1970-1979
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...over, things are brewing. I live in the suburbs of Boston where for years there was virtually no awareness of the nuclear issue. After TMI an antinuclear group formed in my town, and now half a dozen affinity groups from the area make up the Central Massachusetts cluster. The participants range from high school students to grandmothers. An extremely diverse group of people have been calling in to offer their help and advice, including apple pickers, parents of small children, doctors, nurses and medical students, food cooperatives, Native American groups and even General Electric workers. We seem to have reached...
...Communication is always central and given this institution, communication is designed to be confusing," Simone Reagor, director of the Forum said last night. The Forum serves to maintain a sense of the Radcliffe community through University-wide activities...
Though some compute the value of their hoards at less than market prices, any rise in those prices does lift the amount of a nation's reserves. Says Economist Robert Triffin, an international monetary expert: "Central banks now hold on their books assets that are ten times as valuable as they were in 1969. They can theoretically use these assets." In effect, wealth can be created out of nothing: the gold can either be sold to cover trade deficits or borrowed against...
...speculators who had earlier bet that gold would fall, and now had to run to buy to cover their short positions. At the same time, two events added to doubts that Western policymakers would come to grips effectively with their common economic problems. In Paris the finance ministers and central bankers of the Big Five monetary powers-Germany, Japan, France, Britain and the U.S.-failed to end a potentially damaging interest rate war among them. And the International Monetary Fund issued a gloomy study predicting a worsening economic outlook...
That wry description of the policy of the Federal Reserve Board's new chairman is already making the rounds in Washington. Though he has headed the U.S.'s central bank for a little more than seven weeks, tall, taciturn Paul A. Volcker has lost no time in establishing himself as a staunch inflation fighter, dollar defender and hard-liner on interest rates. Since he took charge on Aug. 6, the key rates used to manipulate credit policy have shot up dramatically. The Fed last week raised the discount rate, which is the interest it charges on money that...