Word: forecasts
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...Washington, the White House support team that will accompany President Carter to Bonn completed its negotiating briefs and studied the latest economic indicators. They did not make for cheerful reading. New Government estimates published last week forecast a U.S. inflation rate of more than 7% for 1978 and lower economic expansion than previously expected (see cover). Not only was Congress still stalled on the President's energy package, but the Senate has threatened to block any draconian attempts by the Administration to impose levies or quotas on oil imports. In short, Carter will arrive in Bonn with a somewhat...
That may sound less like optimism than Pollyannaism. So far this year inflation has exploded. From March through May, it averaged 11.3% at an annual rate, one of the worst three-month performances ever. Though no one expects the surge to remain that bad, the Carter Administration last week forecast a 7.2% rise for the full year, and some economists expect an 8% increase...
...plain fact is that the internal settlement, which was ratified three months ago by former Prime Minister Ian Smith and three black moderates, is not working, and for the reason widely forecast: it left the Patriotic Front guerrillas on the outside looking in. Says an adviser to Bishop Abel Muzorewa, the most popular of the black politicians in the interim government: "The root cause of the problem today is that the country has no leader. For 13 years the whites had Smith, and before that there was a succession of strong white leaders. In earlier times, before the Europeans arrived...
...others argue that the Federal Reserve's tight money policy is making a recession much more likely. In a forecast released last week, Economist Arthur Okun, a senior fellow at Washington's Brookings Institution, warns that a soft landing would be impossible in a "very soggy economy" and charges that the Fed's moves to push up interest rates are creating a "very severe risk of recession" later this year or early...
...with the forecast calling for hot, sunny weather this weekend, the best sporting thing you can do is get out there and do it up yourself. In December you'll wish...