Word: expanding
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Dates: during 1980-1989
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Several of TIME's economists contended that the Federal Reserve Board should expand the money supply a bit faster to bring interest rates down another point or two. Said Charles Schultze, a visiting professor at Stanford University's graduate school of business, who was President Carter's chief economic adviser: "The thing most likely to make a major change in economic performance over the next couple of years would be a further easing by the Fed." Agreed De Vries: "The Fed is moving much too slowly." By coincidence, shortly after the meeting at TIME ended, the Reserve...
...depressed auto industry. In a slide since 1979, new-car sales skidded to a 21-year low of about 5.7 million units, while unemployment surged to 23% of the auto industry's 1.1 million-worker labor force. The unwillingness, and often even the actual inability, of businesses to expand their plants and production facilities in the face of shrinking demand sent shock waves out through virtually all of heavy manufacturing. International Harvester Co. of Chicago (1981 sales: $7 billion), already deeply in debt to banks across the country because it borrowed to stay afloat as sales plummeted, teetered throughout...
...area is sanitized, Denver would like to use it to expand nearby Stapleton International Airport. But that may take a while. Congress has yet to appropriate money for the cleanup. Experts estimate that complete detoxification would cost a hefty $6 billion...
...hiked taxes on most imports. He has reassessed Sadat's policy of al infitah (the opening), under which the country has attempted to lure foreign investors. Launched in the mid-1970s, al infitah produced some investment in luxury hotels and soft-drink plants, but did little to expand Egypt's industrial base...
BRITAIN. Board Member Brittan, while acknowledging that he had overestimated the growth in Britain during 1982, argued that in 1983 the U.K. economy could expand by as much as 2.3%, in contrast to the current 1% consensus forecast of most analysts. Said he: "Either the economy will not take off at all or it will grow a good deal faster than most believe." Brittan based his forecast on the stimulative effect of a planned March 1983 tax cut, as well as the impact of the recent decline in interest rates, which has not yet been felt in the economy. Though...