Word: feds
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Dates: during 1980-1989
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...Fed chairman must cool off money growth without halting the recovery...
...apparent multiple sources of Carter campaign papers reaching the Reagan team, however trivial much of them seemed to be, fed the suspicion of those with a conspiratorial bent that a political espionage operation may have been conducted by the Reagan aides. To Washington Post Columnist Mary McGrory, the incident reinforced her theory that "Republicans think of political campaigns as war-in contrast to Democrats, who see them as sporting events...
...money supply, which consists chiefly of currency and bank checking accounts. In the past six months, M1 has been growing at a 13.5% annual rate, despite a $3.2 billion drop reported last week. That pace could eventually overheat the economy and spark a new run-up in prices. The Fed's announced target range for M1 growth for the year is 4% to 8%. Says Rudolph Penner, an economist at the American Enterprise Institute: "If there's no clampdown on the money supply very soon, inflation will be back next year with a vengeance." Already, there are signs...
...have privately admitted that monetary policy must be tightened a bit. One member told TIME: "There are unmistakable signs of overheating now. The animal spirits are starting to rise. If something isn't done soon, all our progress of the last three years would be at risk." The Fed governor said the Reserve Board might gently nudge up short-term interest rates, now at about 9%, to the 10% range. Many private experts, including Alan Greenspan, who was chief economic adviser to President Ford, agree that the economy can withstand a small hike in interest rates. The recovery could...
...perfect!" marvelled Erica Van Wagener, a New York import with a bit part. "They want corn-fed sweetness, and she fits in the hole. She can play all the teen-age girl roles until she's 25." Van Wagener complained that her own career was impeded because she could not be stereotyped so easily. It is those stereotypes that TV uses to build its picture of life...