Word: chairman
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...basic purpose of Hua's visit was to reiterate China's desire to open up to the West. The Chairman also expressed his support for both the European Community and NATO in the common struggle against "hegemonism," Peking's code word for Moscow's expansionist ambitions. In a long-winded toast delivered at Giscard's welcoming dinner, Hua reeled off a list of Soviet sins, without once mentioning China's Communist archrival by name. He declared: "In Europe a serious state of military confrontation continues. In the Middle East, in Africa...
...just such evidence of economic strength that two weeks ago led Federal Reserve Chairman Paul Volcker to push up interest rates to new highs and announce new measures to curb the inflationary growth of the nation's money sup ply. But the money stock actually expanded by $2.8 billion in the first week after the "Volcker Package" was announced, and the Fed immediately began tightening credit and forcing up interest rates still further. This drove the Dow Jones index of industrial stocks down an extra 24 points last week, renewing memories of the Great Crash that occurred 50 years...
Already the cost of money for almost all purposes is soaring. Federal Home Loan Bank Board Chairman Jay Janis predicts that mortgage rates, which now average 11.5% nationwide, could reach 14% by January. Meanwhile, the ability of consumers to pay for costlier credit, oil and everything else is rapidly declining. Washington Economic Consultant Michael Evans calculates that inflation and the rising tax bite have reduced the spendable income of a family of four earning $20,000 annually by $1,000 so far this year. If consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories...
...Chairman Volcker remains a man on the spot. Lane Kirkland, George Meany's apparent successor as president of the AFL-CIO, has already condemned the Fed's big rate boost as the "wrong move at the wrong time." Economist John Kenneth Galbraith labeled the Federal Reserve's program "an incredibly dubious policy" that will cause a steeper decline but help very little in slowing inflation...
...night last week, when Volcker arrived at Washington's Kennedy Center for a preview showing of Tom Stoppard's play Night and Day, a woman approached him and said plaintively, "Please, don't let interest rates stay high for too long." Replied the Federal Reserve chairman, as he removed the cellophane from his 20? Antonio y Cleopatra Grenadier cigar: "We're trying our best...