Word: feds
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Dates: during 1970-1979
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...been increasing dramatically as a result of the rising cost of imported oil. Today they form a $600 billion money mountain in Europe as well as in the Caribbean and other offshore tax havens, where they have escaped the control of the Federal Reserve. In the past, when the Fed tried to curb the pace of business?and inflation?by limiting the supply of money, banks were able to circumvent this tightening by obtaining Eurodollars. The 8% reserve requirement will discourage this by making that money more costly for the banks to borrow, since they cannot lend...
...policy decision that henceforth the Federal Reserve will no longer concern itself with trying to manipulate interest rates, its traditional device for controlling the growth of money, and will just stop creating so many dollars instead. The Fed regulates the level of money in the economy by buying or selling Government securities through its so-called Open Market Desk at the New York Federal Reserve Bank. When the bank buys the securities, it pumps money into the economy; when it sells them, money is drawn out, and interest rates rise. The Fed is now saying that, within broad limits, interest...
...Wall Street, however, about all that nervous traders could make of the Fed's complex announcement was that interest rates would be rising. That is especially bad news for investors who hold shares of stock bought on margin with money borrowed from brokers at floating rates of interest. Wary of just how high those rates might climb, margin holders along with smaller investors began selling in earnest on Monday, pushing the Dow down 13.57 points...
...though the purchases so far have not been huge, and will at most mean an increase in stock holdings of roughly 10 per cent, that's a significant move for Harvard's exceptionally prudent money managers--a sign that they believe the Fed's program will help the economy in the long run and revive both the markets and Harvard's latest investments...
...County, Okla. In the late 1920s he studied classical composition under Nadia Boulanger in Paris. But his vigorous rhythms and clean melodic lines were more reflective of the open spaces and the expansive optimism of his native land than of Europe. "America," he said, "is the richest, strongest, best fed of countries. Why should our composers produce fussy little bits of emaciated music based on secondhand European prototypes?" He wrote 16 symphonies and 185 other major works, many of them for his pianist wife, Johana. His Symphony: 1933 was the first American symphony ever recorded; the Harris Third...