Word: forecasting
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After taking a snooze during the winter, the U.S. economy now appears ready to shake off its lethargy and get moving again. That was the optimistic forecast of TIME's Board of Economists, which met last week in Washington. The members see the U.S. economy growing at a solid 3% annual rate for the rest of the year...
...lowest level in almost seven years. That spurred most major banks to reduce the prime rate they levy on business loans from 10 1/2% to 10%. This action will help many businesses finance expansion plans and may also lead to lower interest on some consumer loans. TIME's economists forecast that the prime rate will fall at least another notch, to 9 1/2%, before leveling off. M.I.T. Professor Lester Thurow predicted that the prime rate will decline to 8% by the end of the year...
...interest rates decline because inflation seems dormant. The Labor Department reported that the consumer price index rose at a moderate 4.6% annual rate in April and at a 4.2% clip for the first four months of the year. Inflation has been about 4% since 1982, and TIME's economists forecast that this pace will continue through the rest...
...week ago Friday and I was stretched out on my bed in the Duluth Holiday Inn. WJBR's meteorologist had just finished has forecast with the suggestion that everyone stay tuned for an interesting segment in the second half of the program about the young man whose newspaper article had caused so much controversy...
...rulers who have Jewish subjects exercise a sharp mercy toward these wretched people," wrote Luther in 1543. "They must act like a good physician who, when gangrene has set in, proceeds without mercy to cut, saw and burn flesh, veins, bone and marrow." His harsh prescription was an unwitting forecast of the horror that was to come...