Word: discountable
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Dates: during 1950-1959
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...might get out of hand. Last week the Federal Reserve governors decided it was time to put more checks on credit and industrial expansion. With a flourish of his pen FRB Chairman William McChesney Martin Jr. okayed, for the fifth time in a year, an increase in the discount rate for eleven of FRB's twelve district banks, thus making it more expensive to borrow money...
...nine districts the discount rate, i.e., the fee the Federal Reserve Banks charge on loans to member banks, was raised ¼% to 2¾%; the Minneapolis and San Francisco banks boosted their rates ½% to 3%-highest rate in 22 years. Chicago prepared to follow suit...
...Cairo he has gathered together a kind of sleazy cominform of renegades and exiles, some (like Jerusalem's ex-Muft) in quiescent asylum, others in active intrigue. Since 38-year-old Gamal Nasser is perhaps the Arabs' ablest leader, the West has tended to ignore or to discount Cairo's busy factory of revolt-or, in the case of the U.S., to sympathize with the demands of dependent peoples and to soft-pedal some of its ugly overtones...
...many people had listened to either the Voice of America or the BBC's foreign service, they were in general suspicious of them. Since they felt that the Voice greatly exaggerates the plight of the Russians--and this point they can check against their own experience--they tended to discount what it says about conditions outside of Russia as well. The simple and sophisticated people alike adopted the attitude that "Your radio lies, and so does ours." The BBC, while in this same general category, is more highly respected...
...government concluded that it could not wait for remedies until the April budget. Pale and worried, Chancellor Harold Macmillan rose in Commons one day last week and announced his new measures. The day before, he had raised the bank rate (equivalent to the U.S.'s Federal Reserve discount rate, now at 2½%) to 5½% - highest since the depression days of 1932-in a move to tighten the supply of borrowable money. Now he jumped on the British consumer, who has been enthusiastically snatching up goods on the "never-never" (British slang for the installment plan). The minimum...