Word: discount
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Dates: during 1980-1989
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...from 15% in the autumn of 1979 to about 5% at present. In September, prices charged by producers actually declined at an annual rate of 1.7%. Market watchers have in fact been noticing a shift in Federal Reserve policy for several weeks. The central bank has chopped the important discount rate, which is what it charges banks to borrow money, from 14% a year ago to 9.5%, the lowest level since June 1979. In addition, the Federal Reserve has allowed the money supply to expand during the past month at an annual rate of 14.5%, which, if permitted to continue...
...busy twelve hours a day with requests for tips and quotes. Says he: "I think the more sophisticated investor here knows he missed the first run-up in August, and he doesn't want to miss this one too." Says C. Derek Anderson, president of his own discount brokerage in San Francisco: "Most definitely the little guy has come back into the market...
...Southern California, residents with discount fever can sign up for Tours About Town, a weekly bargain-hunting expedition started last year by two enterprising teachers. Intrepid shoppers are bused from suburban Los Angeles to the city's downtown garment district and given a map, buying tips and money-saving details on local jobbers, wholesalers and factory outlets. Cost of the tour: about...
James Belmares watched intently as his six-year-old son James III eagerly pushed the keys of a Texas Instruments home computer in a Target discount store in Dallas. Belmares, the father of five children, had previously been scared off by the price tag on the machines, but last week the computer was only $299, and the company was offering buyers an additional $100 rebate. The tempting price and the unrestrained enthusiasm of his children made a purchase virtually inevitable. Said he: "The kids are wild about it. They are addicted to it. It's like a cult...
...President himself was in an ebullient mood last week. "That's wonderful!" he exclaimed when White House Chief of Staff James Baker phoned him at his ranch in California with news of the latest Federal Reserve cut in the discount rate. In two fund-raising speeches in Los Angeles, Reagan ran through a litany of hopeful signs about interest rates, inflation, savings and personal income that he no doubt will repeat endlessly on behalf of the candidates for whom he campaigns...