Word: feds
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Dates: during 1970-1979
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...have reversed roles. Before Burns became head of the Fed, he earned a reputation for being impatient, arrogant, distant. Practically nobody called him by his first name. He was intensely loyal to Nixon, remained his chief economic adviser during the dark years of the mid-1960s, ran his campaign task forces in the 1968 campaign. In policy matters, Candidate Nixon often told lieutenants: "Check it out with Arthur...
...that neither phase has gone according to plan. The federal pressures did not substantially impede inflation and tended to diminish consumer confidence. Even as jobs became scarcer, unions demanded higher, rather than smaller wage increases. Burns argues that Government must act to discourage both wage and price increases; the Fed has recently moved against inflation by raising the discount rate...
...equipped with a whistle and a smoke flare in case he got lost. Not bloody likely. Standing by, according to the London Times, were "enough assault craft to have assaulted half of southern England." Teeth chattering, the 22-year-old prince was hauled into a boat within 20 seconds, fed soup, and later appeared on deck celebrating the end of his five-month flying course by sipping a suspiciously non-soupy substance. Said his Aunt Margaret: "The whole idea makes me feel sick...
...really nice if distant dad. He bought the child a small flock of sheep, and became her silent partner in a tiny bee-raising business; many of these episodes, mentioned obscurely in The Cantos, are here explained in full. In Venice he walked her all over town and fed her gooey Italian goodies. And one night, after taking Mary and Mamile to a Fred Astaire-Ginger Rogers movie, he got so excited that all the way home he tap-danced like a damn fool on the cobblestones of Venice...
...SoHo was beginning to stimulate a political cleavage in the art world. Artists, fed up with seeing their work presented, if at all, as a luxury item at 50% commission on Madison Avenue, were talking of short-circuiting the dealer system entirely and selling work out of their own lofts. Meanwhile, the prodigious overhead of running an uptown exhibition space made it economically difficult for dealers to show new or unfamiliar art in the fading years of the '60s boom. Opening a branch in SoHo became a necessary gamble. Paula Cooper, the first gallery owner...