Word: crash
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Dates: during 1980-1989
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...will come under excruciating pressure to raise them again if the dollar needs rescuing. Any little upward nudge in interest rates, however, is likely to send the stock market into the tank again. When the Fed's open market committee met last week for the first time since the crash, some economists hoped the group might rescind September's discount-rate increase. But no such announcement came. One reason may be that the committee has too little information so far about Black Monday's effect on the economy. Without solid proof that growth is imperiled, the Fed is probably reluctant...
...went ahead with those plans in spite of Black Monday. Many car dealers now say business is slowing by as much as 30%. Major retailers, who released October sales figures last week, mostly say business has proceeded at the same sluggish pace they were experiencing before the crash. Sears, for example, reported that October sales were up 1% from the same month in 1986, an increase that did not keep pace with the current 5% rate of inflation. Last week the Labor Department reported that the unemployment rate during October inched upward to 6% from September's 5.9%, which supported...
Like the rest of America, politicians in Washington seemed less likely to change their behavior patterns as memories of Black Monday drifted away. When congressional and Administration leaders opened their second week of emergency budget-cutting meetings last week, their post-crash burst of bipartisan magnanimity was on the wane. "The worst thing for the summit is stock-market stability. It takes the pressure off," says Economist Schultze...
...reporters to the humiliation of shouting questions over the helicopter's roar. Artificial as these tactics were, they helped him sustain the popularity essential to any ! effective presidency. But the trick has worn out, as do all long-running television acts. When Reagan tried to counter the Wall Street crash with one- liners shouted over the rotor blades, it was not Sam Donaldson but Ronald Reagan who looked inadequate...
...statement seemed gracious but a little naive. Given what is now known about Ginsburg, it was foolhardy. In the wake of his withdrawal, few were talking publicly about the long-range implications of the embarrassment. A lame-duck President who has been buffeted by scandal, a stock-market crash and the bruising defeat of his first court nominee could ill afford this latest fiasco...