Word: dependably
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Dates: during 1980-1989
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Whatever happens to the economy in 1981 will depend to a large degree on the actions of the Federal Reserve Bank and its controversial chairman, Paul Volcker. As the nation's central bank, the Federal Reserve regulates the availability of both money and credit in the economy, which helps determine the level of interest rates for borrowers and lenders alike. In October 1979, the Fed announced that it was scrapping its traditional inflation-fighting tactic of trying to regulate overall economic activity by manipulating interest rates within a narrow and relatively low range. The bank decided instead to attack...
Much will depend on whether the new Administration is able to deliver on its promise of deep cuts in federal spending. Board Member Joseph Pechman, a Democratic tax expert with Washington's Brookings Institution, warned that the job will not be easy. Said he: "We have an extremely recalcitrant budget, and the new Administration is going to have a very difficult time trying...
...economic success of the Reagan Administration will depend on the continued support of the American public for an austerity program. Lester C. Thurow questioned whether voters would stick with such policies unless they quickly saw tangible results in the form of rising standards of living. He believes that the U.S.'s recent shift to economic conservatism may quickly evaporate. Said he: "The question is how long will the conservative era have to prove itself before the public kicks it out and tries something else. If the conservative policies cannot work relatively quickly, people will cease being conservatives...
...burden on business all year long. Companies began avoiding new debt financing through the long-term bond market because high rates made that too expensive. Instead, they turned to banks for short-term loans that would not lock them into high rates for ten years or more. Industries that depend heavily on credit, particularly home building and auto sales, have been staggering. Lone Star Industries, the country's largest cement producer, last week took out full-page newspaper ads featuring a large skull and crossbones and the warning POISON...
Even if the plan is accepted by all the parties involved, the ultimate survival of Chrysler will depend on selling the slow-moving K-cars in a recession-battered market. Without an upturn in car sales, no special deal will be able to keep the nation's 17th largest out of bankruptcy court...