Word: discounters
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Dates: during 1960-1969
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...outdoor press conference, Viet Nam was the major topic, and the recent progress of the war clearly had helped the President's mood. Still, as the nation's most avid psephologist,* Johnson took every opportunity to discount his recent drop in the polls. Without even looking down at his notes, he rattled off nearly a dozen favorable tallies and, with a brief flash of his White House petulance, threw a barb at reporters: "We have had a dozen polls, I guess, in the last week. You don't read about the favorable ones, though, I observe." Quoting...
Foreign problems also gnawed at the pound. Switzerland last week raised its bank discount rate from 2½% to 3½% , thus becoming the fifth European nation to do so in the past ten weeks. The higher rates have helped pull short-term money out of Britain...
...which has been increasing rapidly this year-but not nearly so fast as the demand for money in the exuberant economy. Accordingly, the increase surprised neither bankers, brokers nor Washington. The prime-rate hike caused speculation that the Federal Reserve Board would any day now increase its 4½% discount rate-the amount it charges member banks for borrowing funds. Yet if the board acts, it seems likely to disrupt further the delicate competitive balance between the nation's financial institutions...
...church the pastor of which uses tobacco." Kresge men and women, mindful of old S. S. dictums, still eat separately in company cafeterias, habitually snap off lights when leaving washrooms-although managers complain that switches are wearing out. Yet when President Cunningham in 1961 urged that the chain fight discounters by opening its own discount "K-Marts," at a cost of $80 million, S. S. gave his approval without blinking a blue eye. The success of those stores is one rea son why the company's profits last year rose from $17 million to $22 million despite prodigious start...
...real growth in the economy. The Federal Reserve Board could not reduce the rate of monetary expansion without disrupting the nation's economy, if only because the demand for capital is so intense. Thus the board has little room to tighten money further without kicking up the discount rate once again. That is a step which a majority of the board opposes, partly because it would stir up a political tempest, and partly because quite a few financial men recognize that the upward pressures on the economy are easing...