Word: feds
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Dates: during 1980-1989
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...lecturing the U.S. central bank about the dangers of letting the economy slump too far: "It is prudent for the Federal Reserve to recognize the risk that such softness ((in the economy)) conceivably could accumulate and deepen, resulting in a substantial downturn in activity." Yet the statement came from Fed Chairman Alan Greenspan, who went public with a surprisingly frank assessment last week that, at least for the moment, a recession has replaced inflation as the leading threat to the U.S. economy. In his midyear report to Congress, Greenspan confirmed that since early June, the Fed had been allowing interest...
Sensing the inflationary pressures early last year, the Fed tightened credit and dampened growth. In June the Fed was helped in its task by falling energy costs. The Government reported last week that consumer prices last month increased at an annual rate of just 2%, the slowest pace in 16 months. While Greenspan said he sees inflation as a lingering menace, he confirmed that for the moment it has been eclipsed by a need to keep the economy afloat. As a result, interest rates on three-month Treasury bills have fallen from a high of 9.4% in late March...
Like the century he almost spanned, Olivier the actor displayed turbulent energy, embraced awesome excess; his genius and his folly fed each other spectacularly. Said Albert Finney, who in 1959 understudied Olivier as Coriolanus: "He makes the climaxes higher, and he makes the depths of it lower, than you feel is possible in the text...
...anti-terrorism plan," he added. "The terrorists get so fed up with the delays that they mutter, 'Not even Allah is worth this nonsense,' and leave the airport...
Nowhere are the problems more evident than in Detroit and Washington, two archdioceses where the church is confronting sharp dissatisfaction among blacks. In Washington, a fiery, articulate black priest named George A. Stallings Jr., fed up with the church's treatment of blacks, plans to defy James Cardinal Hickey this week by inaugurating his own independent African- American Catholic Congregation. In Detroit, black resentment is aimed at Edmund Cardinal Szoka, who last week finally shut down 21 of the city's 114 parishes, mostly in black neighborhoods, with nine others soon to follow. The action came despite angry protests...