Word: downturning
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Dates: during 1980-1989
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...stock and bond markets reeling. Combined with an alarming surge in producer prices, the disappointing trade figure for February increased the odds that the Federal Reserve Board might feel compelled to raise interest rates to stabilize prices and defend the dollar. With that, the threat of a downturn -- and another stock-market crisis -- loomed once again...
...life experience. A candidate born out of wedlock can preach on the sanctity of the family. A candidate who was advocating economic self-help and personal self-discipline in the ghettos of Chicago can speak with deep credibility about lives lost to drugs and livelihoods lost to economic downturn. A populist -- and Jackson is without question the authentic article -- needs to define a common enemy. What the titans of Wall Street once were to William Jennings Bryan, the international drug cartels and the soulless multinational corporations are to Jackson...
Wednesday, 15--In response to concern among graduating seniors that the market's sustained downturn since Black Monday and deteriorating economic indicators will keep Wall Street firms from hiring in large numbers, President Bok issues an emergency Open Letter. "Somehow, Harvard men and women always manage to prevail," Bok writes. "Our alums at all the major brokerage houses tell me that their organizations will be able to find jobs for recipients of Harvard's great liberal arts education...
Edward Yardeni, director of economics at Prudential-Bache Securities, also sees an interruption of the business cycle, but for a different reason. Rather than an economy-wide downturn, he says, the U.S. has been experiencing a "rolling recession" that has moved from one sector to another without halting overall growth. While agriculture, the oil business and heavy industries like steel have slumped in recent years, high-tech companies, financial services and fast-food outlets have thrived. Now retailers and stockbrokers may be facing hard times, but farming and manufacturing are recovering...
...course, the comeback remains vulnerable to a downturn of the U.S. economy. After 64 months of growth in the gross national product, the longest peacetime expansion in U.S. history has reached old age, and economists are checking its vital signs. Last week the Government reported that the index of leading economic indicators, a barometer of future economic performance, fell .6% in January. But economists were encouraged by the Government's revision of the December index, which changed from a .2% drop to a .3% increase. Moreover, the unemployment rate fell from 5.8% in January to 5.7% in February, the lowest...