Word: digitizes
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...stock market, figure that real estate is their best hedge against inflation and a good long-term investment. The baby-boom kids of the mid-1940s are now setting up housekeeping; most of these young families have two earners, and they confidently assume the burden of double-digit mortgages on houses that often run to six figures. This house-hungry group could keep homebuilding strong for years...
...least inflation will run below the double-digit rates of last spring, permitting the Federal Reserve Board to ease up on its pressure for higher interest rates. Right now, rates are still going up; major banks have just raised their basic charge on business loans to 9½%, from 9% in early summer and 8% at the start of the year. However, board members generally expect that interest rates will peak out before the end of 1978, and back down a bit next year. Nathan foresees declines of around a point on most borrowing rates, and a half-point or more...
...Carter would lose all chance of winning wage-price restraint. In Okun's view, the risk in not adopting a tough guidelines policy is worse: negotiations next year in the construction, auto and trucking industries could result in a wage explosion that would push inflation firmly back to double-digit rates. Joseph Pechman, director of economic studies at the Brookings Institution, adds that the White House could improve chances for labor compliance by promising that if prices rise beyond the guidelines, income tax rebates would be granted to any workers who were hurt because their unions had settled for modest...
Though the U.S. inflation rate has slowed a bit from its double-digit pace of the second quarter-wholesale prices actually dropped a trifle in August-President Carter and his economic advisers are under no illusion that they can claim any credit. Quite the contrary: consumer prices for the year are likely to rise 8% or even more, and the Administration is feeling public fury. As S. Lee Kling, chief deputy to Anti-Inflation Czar Robert Strauss, told fellow policymakers on returning from a trip, "You guys wouldn't believe what's happening out there. They...
...dipped 0.3% at wholesale in July, promising some relief at the supermarket checkout in coming months. The dip had been expected, however. Indeed, if it had not occurred, the U.S. would have been in a desperate inflationary jam: wholesale prices of other finished goods continued to jump at double-digit rates. At best, chances have only improved for holding consumer-price increases for the year to no more than the 7.2% that the Administration forecast. Says Alan Greenspan, a member of the TIME Board of Economists: "I think that the rate of inflation is slowing down from disastrous to merely...