Word: feds
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Dates: during 1980-1989
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Although the Reagan Administration has been vocally committed to bringing inflation under control, waging this fight has fallen pretty much to Volcker, a 1979 appointee of Jimmy Carter's. Often erroneously characterized as a "tight money" policy, Volckernomics amounted to an ongoing effort by the Fed to slow the rate of growth of the nation's money supply, thereby choking off inflation at its monetary source...
...stock market had slumped to its lowest level in more than two years and fears of international financial collapse were spreading. Against this backdrop, Volcker hinted that he was prepared to act more flexibly, to permit monetary growth "somewhat above" the announced targets. Several quick cuts by the Fed in its discount rate to member banks drove home the point. As the money supply expanded and interest rates fell, Wall Street bought Volcker's act. Beginning in August, the Dow Jones industrial average staged a 288-point rally that peaked in early November, and the bond market boomed with...
...Said Charles Schultze, a visiting professor at Stanford University's graduate school of business, who was President Carter's chief economic adviser: "The thing most likely to make a major change in economic performance over the next couple of years would be a further easing by the Fed." Agreed De Vries: "The Fed is moving much too slowly." By coincidence, shortly after the meeting at TIME ended, the Reserve Board announced that it was lowering the discount rate that it charges for loans to banks by a half-point...
...down, companies will continue to restrain their capital spending. After the cut in the discount rate last week, long-term interest rates initially fell, but they bounced back up again, partly out of concern that the Federal Reserve was easing too much and risking future inflation. Concluded Greenspan: "The Fed...
...condition had stabilized. He slowly regained consciousness and was able to move his arms and legs. The next day he was pointing to his mouth, indicating that he wanted his teeth brushed. Physical therapists exercised Clark's arms and legs to prevent the muscles from atrophying. He was fed a gruel-like mixture through a tube inserted in his nostril and snaked down his throat and into his stomach. At week's end Clark was still slowly improving, although his doctors remained concerned about the possibility of brain damage...