Word: feds
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...SCHOOL BOARD OFFICE, WHERE PROMOTION IS BASED ON ACHIEVEMENT. So proclaims a sign posted outside the small, red brick headquarters of the superintendent of schools for Greensville County, Va. (pop. 16,000). Inside sits Sam Owen, a folksy, pipe-smoking administrator who four years ago announced that he was fed up with handing out "rubber diplomas" to high school graduates who could barely read or write. Greensville is one of the poorest counties in Virginia, and at the time the 3,700 stu dents, 65% of them black, in its integrated school system ranked in the bottom third on national...
...theaters three and four times. Allen fans recite bits such as the one that shows Alvy and Annie, on a split screen, talking to their shrinks about the frequency with which they have sex. "Hardly ever," says Alvy, aggrieved; "maybe three times a week." "All the time," says Annie, fed up; "at least three times a week...
...Burns and his colleagues may simply have misjudged the strength of the recovery, and pumped out more than the economy needed or could use. A more technical reason is an increase in money "velocity" -the speed at which money moves from checking account to checking account. Critics fault the Fed for not anticipating that this factor would make money supply grow more quickly than it wished...
Beryl Sprinkel, executive vice president of Harris Trust & Savings Bank in Chicago and a member of TIME's Board of Economists, suggests a third reason: the Fed sets targets for both money-supply growth and interest rates, and it has had great difficulty in choosing goals that are consistent with each other. For example, it may try to keep the "Fed funds" rate -the rate on reserves that banks lend to each other-at around 6%. But it may then find that in order to prevent the rate from rising above that, it has to pump reserves into...
...board is now trying to restrain the growth of money; in consequence, interest rates are rising. Last week it let demand for money push the Fed funds' rate as high as 6¼%, instead of pumping cash into banks to stop the rise. Other short-term rates are going up too. Chase Manhattan last week led the way for other major banks in lifting the prime rate charged to their best corporate customers by a quarter of a point, to 7¼%, the highest in a bit more than a year. Three-month U.S. Treasury bills, which traded...