Word: discount
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Dates: during 1980-1989
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Through the purchase and sale of Treasury bonds, bills, and notes, he holds the reins on the nation's money supply; by setting the Fed's discount rate, he determines the prevailing lending rates which often dictate whether businesses can expand or families can afford to buy homes...
Responding in part to a slowdown in the industrial sector, the Federal Reserve last month lowered the discount rate a notch...
...Coop congratulate departing seniors with graduation gift of its own, giving each student a 20 percent discount coupon good for any thing in the store and a Coop notepad when they pick up their caps and gowns. A congratulatory letter from Argeros also accompanies these gifts...
...Federal Reserve signaled its intention to ease credit two weeks ago when it dropped the discount rate, which is the interest it charges on loans to commercial banks and savings institutions, from 8% to 7 1/2%, the lowest level in almost seven years. That spurred most major banks to reduce the prime rate they levy on business loans from 10 1/2% to 10%. This action will help many businesses finance expansion plans and may also lead to lower interest on some consumer loans. TIME's economists forecast that the prime rate will fall at least another notch...
...drop in interest rates energized Wall Street for a while. On Monday, which was the first business day after the discount rate cut, the Dow Jones industrial average surged 19.54 points to finish at a record 1304.88, its first close above the 1300 barrier. The bulls tacked additional 4.82 points onto the Dow average on Tuesday, lifting it to a new peak of 1309.7. At that point the market began suffering from one of its recurrent afflictions: acrophobia. Investors started cashing in some of their profits, sending the Dow back down. The industrial average finished the week...