Word: fed
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Dates: during 1970-1979
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...months as chairman of the Fed, Bill Miller, 54, has been something of a maverick. He speaks freely to the press, signs most of his business letters Bill, and takes off his jacket on occasion at congressional hearings. A businessman and lawyer rather than an economist by training, he has been remarkably accurate in his economic forecasting. Known from the beginning as a determined inflation fighter, he has taken the position that the Fed should be dedicated to a long-term plan for reducing the inflation rate over the next five to seven years and should not react nervously...
...become Treasury Secretary after two other candidates had turned down the job. (Another theory is that he has political ambitions.) It may also explain why he helped the Administration get the natural gas compromise bill through Congress last year−raising questions as to whether the chairman of the Fed should be getting into any subject as controversial as gas decontrol. But earlier this year, when the Administration tried to pressure him into raising interest rates, Miller flatly refused. Such high rates, he insisted, would be "unbecoming, unwise and unnecessary," and would run the risk of deepening the coming recession...
...reputation for arguing hard and voicing stinging criticism behind closed doors; out in public, however, he joins ranks and forcefully presents the majority position. But Miller can also be stubborn. Blumenthal discovered this last spring when he tried to lean hard on his old friend Bill to have the Fed raise interest rates. Concluding that Blumenthal was wrong, Miller balked; eventually Carter had to tell Blumenthal to ease up the pressure. Later Miller would sit calmly in his inordinately neat Fed office on Constitution Avenue, motion out the window toward the White House and say, "All's quiet...
...every metropolis and conspicuously so in the big ones such as Detroit, Boston, Chicago, Los Angeles and New York. While the portables are played ostensibly for private enjoyment, the music is freely shared with the world-but not always to applause. Indeed, many captive listeners consider the force-fed entertainment an assault. Whatever else it may be, the new wave of unavoidable music is pervasive-and the dial is rarely turned to bring in even the most important news...
Digital recording shows up analog recording for the late-Victorian process it is. The new technique does not attempt to record directly the vibrations of sound waves. The sound is picked up by microphones and fed through amplifiers to a computer, which then translates the waves into a series of numbers representing the character of the wave form. These numbers are stored as binary "words." Then, when the recording is played, the computer translates these numbers back and the re-created sound waves cause the membranes of speakers to vibrate-possibly with joy. In any case, those vibrations from...