Word: congressed
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...Securities and Exchange Commission, Manuel Cohen-who is likely to be replaced as chairman after Inauguration Day-hopes to launch a comprehensive study on the impact of mutual funds, pension funds, foundations and other institutional investors on the securities markets. The study has been authorized by Congress and endorsed in principle by Nixon. But during the campaign, the incoming President criticized Washington for its "heavyhanded" regulation of the securities field. Cohen fears that if he does not move quickly to get the investigation well under way, his Nixon-appointed successor will not press the study too vigorously...
Though there are a few signs of a slowdown ahead, the economy so far has resisted all attempts to curb its expansive excesses. Congress belatedly passed a 10% income surtax in June, but production and demand-and prices -only kept moving higher. From November 1967 through last April, the Federal Reserve Board raised the discount rate three times, boosting it from 4% to 5½%, a 39-year high. The board later dropped the rate to 5¼% , but last week, declaring a new assault on inflation, it lifted the rate again to 5½%. Whether the rise will have...
...three years ago. In 1965, Lyndon Johnson decided that the nation could simultaneously support the Viet Nam buildup and the Great Society. Critics insisted that such policies would push up prices unless taxes were raised. Johnson refused to propose higher taxes. Such a move would almost certainly have prompted Congress to cut back some of his favorite spending programs. Later, faced with soaring federal deficits, Johnson changed his mind and urged a tax increase. But Congress dallied for 18 months-and thus lost an opportunity to halt inflation before it took deep root...
...When Congress finally got around to enacting the surtax at midyear, much of its effect was washed away by another big factor. While taxes went up, wages went up much faster. During the year's first nine months, about 3,400,000 unionized workers won pay raises averaging 7.5% annually, the largest gain since the Labor Department started keeping track 14 years ago. For the year as a whole, wages and benefits rose about 7%, while productivity increased only 3.2%. The result was that so-called unit labor costs jumped 3.8% -and the consumer...
...enough by the steadfastness of subscribers to continue the experiment. Zenith is working on a more sophisticated decoder with automated billing and has long petitioned the FCC for a go-ahead in other markets. Now, after years of knuckling under to the anti-pay lobby and its friends in Congress, the commission approved more fee-vee, but hesitantly. The authorization will not take effect for six months, pending congressional review. And the new pay-TV charter contains so many safeguards for the existing industry that the National Association of Broadcasters may no longer oppose the plan...