Word: grow
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Dates: during 1980-1989
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...shorts and T shirt, said he is doing it for the & exercise. A chain saw, he told a passerby, is "music to my ears." Countered Neighbor Betsy Kitzerow: "I just could not believe somebody could be that destructive to something that took God maybe 60 years to grow...
...excellent choice." In the U.S., where Greenspan is much better known, most economic thinkers and money managers hailed the Fed newcomer -- once they had regretted Volcker's departure. Said Frederick Joseph, chief executive officer of the Drexel Burnham Lambert investment firm: "Volcker had credibility. Greenspan will have to grow into it." Agreed Alice Rivlin, director of economic studies at the Brookings Institution and a fellow member of TIME's Board of Economists: "Volcker had the confidence of the world. That will be the hardest thing for Greenspan to build...
...sign of the change is that Volcker went along with a gradual reorientation of Fed policy toward pepping up economic growth. In 1986 the Reserve Board let the basic money supply grow at a 16% annual pace, far above Volcker's original target limit of 8%. That money spurt, along with the weakening dollar, has let inflation edge up this year and may have sown the seeds of future rises that could nullify part of Volcker's celebrated victory against spiraling prices...
...deal leniently with Mathias Rust, 19, the newly famous West German aviator. No less an insider than Valentin Falin, head of the official Novosti press agency, initially predicted that the "young man will soon see his parents and friends." But as the week wore on, the Soviets seemed to grow less and less inclined to let Rust off the hook, or for that matter to dismiss his unprecedented feat as an innocent, if dangerous, stunt. In any case, said Yegor Yakovlev, editor in chief of the foreign-language weekly Moscow News, Rust "will have to answer according...
...stores, the pump jockeys to keep the cars running? Not from the local working class; in many communities there is none. Manual and low-paid clerical workers cannot afford the housing prices (Orange County median price for a new home: $125,000); indeed, many of the children who grow up in those houses must move elsewhere when they start their own families. And residents fearing still greater congestion fight bitterly and usually successfully against construction of low-cost, high-density apartments...