Word: digit
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Dates: during 1970-1979
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...drop in interest rates must await the discovery of what no industrial nation has yet been able to find: an effective strategy for fighting inflation that does not run the risk of producing intolerable unemployment. The lesson of the current interest troubles could not be more painfully clear: double-digit inflation equals skyrocketing interest rates; and until inflation goes down, rates will stay...
...working through the Federal Home Loan Bank Board, may have to step in "to prevent actual bankruptcies" by bailing out shaky S and Ls. To Otto Eckstein, the lesson of the danger is that "it is impossible for the U.S., with its present economic system, to live with double-digit inflation...
...though the economists predicted some slowing of price increases, few saw any chance of bringing the rate for the full year below 10%. Greenspan predicts that retail prices will go up 10.4% for the year, making 1974 "the first calendar year of double-digit inflation since 1947." Eckstein frankly states that he can see "nothing but disaster" this year on the inflation front. He expects the consumer price index to rise 11.1% for the year and the wholesale price index to leap an incredible 17%. For length and severity, says Eckstein, the current U.S. inflation has already become the worst...
After 2½ years of controversy, the nation's first peacetime wage-price controls died last week, leaving disillusion and double-digit inflation in their wake. Almost immediately, prices began to scoot higher on a wide range of goods, including cars, light bulbs, liquid oxygen, some air-conditioning equipment and those basic materials, steel and copper...
...economic news had rarely looked so discouraging. National production in the first quarter dropped more sharply than at any time in the past 16 years. Consumer prices continued to spiral up at a dizzying double-digit rate. Interest rates on some bank loans hit an alltime high. If the new figures had been deliberately chosen to do so, they could hardly have underscored better the dimensions of the job that faces Federal Energy Chief William Simon, who was nominated last week to be Secretary of the Treasury. Simon may end up with more responsibility than anyone except President Nixon...