Word: crediters
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Dates: during 1960-1969
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...longer be sold for "Mickey Mouse money," as Farm Bureau staffers call the soft currencies the U.S. takes in counterpart-fund payments for its food. Instead, the Government would buy food for foreign countries, give away 20% to the neediest and poorest nations, and distribute the remainder on credit to be paid off in dollars. His program, said Shuman, would eventually eliminate money spent on Food for Peace as well as the annual $3 billion subsidy doled out to farmers...
...tighter money policy causes the economy to dip too sharply, Johnson can rightfully argue that he opposed the discount boost all along. On the other hand, if the 58-month-long economic boom continues unabated, as most economists expect it to, Johnson-not the board-will get the credit...
...Federal Reserve wait until January, when the final figures for next year's budget will be ready, even the President's economic advisers did not seriously quarrel with the board's move. They were impressed by November figures that showed a rapid rise in bank credit and by an additional and unexpected rise of $900 million in plans for plant and equipment investment in 1966 -a jump indicating that the pressure on credit will be more permanent than previously supposed...
...number of those eligible for the prime rate; now they will tend to up that rate by another ½% to many of their customers. Since interest costs are tax deductible, few businessmen will be driven away unless the Reserve Board follows up by restricting the actual supply of credit, which it insists it does not plan...
...burst of enthusiasm revives the Gen Ed program, much of the credit will rightly be given to the reforms voted by the Faculty and to the new Gen Ed Committee. But undergraduates should be grateful to John Finley, who took it upon himself in the bleakest of years to remind his colleagues that Harvard owes its students more than a specialist's education...