Word: feds
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Dates: during 1970-1979
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Investors' overriding worry, however, is not the dollar but interest rates. Last week the Federal Reserve Board acted to push the "Fed funds" rate at which banks lend to one another to nearly 9%, a level that Economist Okun believes-almost guarantees recession by making borrowing more expensive. Nor is there much hope that the rises in loan charges will stop. The Federal Reserve has been jacking up interest rates largely in order to contain an inflationary increase in the U.S. money supply, but so far it has failed. Money supply during the past month has shot...
...Fed has ways of manipulating money supply other than raising interest rates; it can, for example, pull money out of the banking system by selling Government securities. But heavy loan demands defeat the best-laid plans and cause both interest rates and the money supply to rise. So it is a destructive cycle: people borrow to stay ahead of inflation, and vigorous borrowing feeds inflation. So all economic troubles now come back to inflation-a great evil in itself and the main force that is driving down the dollar and the stock market, forcing up interest rates, frightening consumers...
...Boulez, to stand still is to fall back. "The people at IRCAM should be like children who always want to be fed. That is the relation I want between the musicians and the scientists." In addition to directing his staff of 53 and planning IRCAM'S future, he is working toward a May concert of his own. He regards his six years as music director of the New York Philharmonic as "a big parenthesis in my life," but adds, "I learned the practicalities of administration there. Without that experience I might not have been offered this job. I think...
...least one student is being treated at Stillman Infirmary, is severely dehydrated and is being fed intravenously, Postel said...
...they ever prove that Cassius Rife killed Cora's father?" One of the cast marries a Japanese man. He is apparently the only Japanese in town. No explanation is given of how he got there. When World War II breaks out, we hear that his wife bashes a Fed over the head with an umbrella when they come to take him away to an internment camp. He reappears later in the book, casually, and again no explanation is given...