Word: digit
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Dates: during 1980-1989
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...first time that the Begin government had been accused of mismanagement of the economy. Confronted with widespread discontent over Israel's triple-digit inflation during his re-election campaign last year, Begin appointed Yoram Aridor as Finance Minister and gave him a mandate to lower taxes on such luxury items as color TVs and household appliances, a short-term ploy that helped the Likud win the election-but only at the cost of rekindled inflation a few months later...
...Federal Reserve does its job have undergone radical changes that help explain what is happening to interest rates. A decade ago, the typical American saver was content to earn 4½% or less in a passbook account, which was the maximum allowed by law. In the 1970s, double-digit inflation arrived, and the passbook account became a bad deal. Money quickly lost its purchasing power when it was saved at 4½% interest while prices rose at a 10% clip...
...specter of double-digit inflation is fading fast. Indeed, the Consumer Price Index., which was bounding up at a 14% annual rate as recently as last September, rose at a mere 3.7% pace in January. Economists now freely predict that the February figure, to be announced this week, will show an equal or even more modest increase. A few are timidly speculating that it might actually drop for the first time in 16 years...
...Advisers under Presidents Kennedy and Johnson, "is in good part a fundamental change, a structural change." Adds Otto Eckstein, a member of TIME's Board of Economists: "Sure, if the economy picks up, there might be some acceleration in inflation, but it should not be anywhere near double-digit levels. Barring any new disaster in the world, I think we have eliminated double-digit inflation...
...November elections, Republicans face the prospect of trying to defend Reagan's budget, with its huge deficits and reduced social spending, at a time when the country may still be suffering from the effects of recession, high unemployment and double-digit interest rates...