Word: expanding
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Dates: during 1960-1969
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...University of Texas regents, angered by two student demonstrations, prohibited school officials from negotiating with anyone engaged in "disruptive activity." In October, Texas students blocked the doors to the university's main building with cypress trees that the school had cut down in order to expand the Texas football stadium. The protesters were particularly angered by the administration's decision to rush the cutting; a few hours later an Austin court handed down a restraining order that would have spared the trees. In November, more activists occupied a campus snack bar from which university officials had barred nonstudents...
...board is split by a rare public debate over whether, when and by how much to expand the money supply. Last week Vice Chairman James L. Robertson called for "tighter and more painful controls" to eradicate the nation's "inflation psychosis." Such tough talk reflects a serious worry that is still shared by the majority of the board's members. They fear that even the slightest move toward easier money or lower interest rates would be misinterpreted by businessmen as a signal to get set for another jolt of inflation. In the minority at present, Board Members Sherman...
...argues that the board's fallible members frequently misjudge how much to expand or shrink the money supply, and that their actions often exaggerate the swings of an economy that they are supposed to stabilize...
Friedman's fact-laden criticisms of the Federal Reserve have considerably undermined its once sacrosanct standing as the arbiter of U.S. monetary affairs. Mindful of his formulations, the Congressional Joint Economic Committee has been pressuring the board to expand money supply at a rate of between 2% and 6% a year. The board has refused to go that far. but it has begun providing the committee with quarterly reports explaining its money-supply maneuvers...
Economists tend to agree on the business profile for 1970: a rise in jobless ranks to 4¼% or 4½% of the labor force; 4% price inflation, probably tapering off toward year's end; sluggish 2% real growth in the over-all economy, which will expand from $933 billion to $985 billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman...