Word: grips
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Dates: during 1980-1989
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...levels of business inventories and the expectation that the recession will end by early next year. Unlike 1973, when businesses started the recession with large stocks of unsold goods, they now have modest inventories. This economic downturn has been predicted for so long that companies have kept a tighter grip on production and not amassed excessive backlogs. A drop in customers thus will not result in immediate widespread firings. Says a Capitol Hill economist: "In certain industries inventories are getting out of line with demand, but we're still avoiding the speculative buildup...
Though interest-rate temperatures were going down, the U.S. economy remained in intensive care. Inflation psychology, which had long led consumers to buy just about anything at any price because of fears that costs would keep rising, seems to have lost its grip. A public increasingly concerned about job security has begun to pull back at the check-out counter. Installment debt rose by only $1.4 billion in March, a 38% drop from the February rate; the consumer confidence index of the Conference Board, a Manhattan-based business study group, reached its lowest level since the 1974-75 recession...
...nation's central bank denies that it is changing its policy course. It insists that the unprecedented free fall in interest rates is the predictable result of its success in getting a better grip on the money supply. Last fall, when Volcker switched tactics in the attack on inflation and decided to concentrate on controlling the growth of the money supply rather than the level of interest rates, he warned that the rates would rise sharply but then also fall rapidly. With less money available to meet loan demand, rates at first rise. But when credit demand falls...
...have a grip on a very traditional form of journalist," Daniel Schorr told a small group at the Harvard Law School Forum last night...
...problem. If the situation is left to extremists on both sides, there will never be an agreement." He believes, however, that the establishment of new Jewish settlements on the West Bank shows that the Begin government is seeking only to maintain the status quo in order to tighten its grip over the occupied territories. "The settlement activity shows that Israel is not serious. Begin won't formally annex the West Bank," says Abu Zuluf, "because he doesn't want all those Palestinians voting for the Knesset. He just wants the land and not the people." The tall...