Word: growth
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Dates: during 1970-1979
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...policy decision that henceforth the Federal Reserve will no longer concern itself with trying to manipulate interest rates, its traditional device for controlling the growth of money, and will just stop creating so many dollars instead. The Fed regulates the level of money in the economy by buying or selling Government securities through its so-called Open Market Desk at the New York Federal Reserve Bank. When the bank buys the securities, it pumps money into the economy; when it sells them, money is drawn out, and interest rates rise. The Fed is now saying that, within broad limits, interest...
Strictly speaking, the Federal Reserve's action is less a shift in policy than a change in procedure. Successive Fed chairmen, beginning with William McChesney Martin in 1951, have remained committed to holding down inflation by preventing the rapid growth of money and credit. But the economy of the 1970s has grown so bloated and distorted with spiraling prices that the traditional techniques of money management have become increasingly useless and even counterproductive. Indeed, at certain critical moments, well-intentioned efforts by the Fed either to tighten up or to relax the reins on monetary growth have boomeranged. The result...
...film traces the development of the anti-war movement at the University of Wisconsin from the earliest demonstrations in 1963 to the fall of Saigon in 1975. Using rare, archival film obtained from the State Historical Society and authentic US Army combat footage, Silber and Brown carefully parallel the growth of the anti-war movement with the escalation of American involvement in Viet Nam, from the sparsely attended demonstrations against the February, 1964 bombings of North Viet Nam to the 1967 protests against Dow Chemical Co. and the use of napalm and finally to the massive demonstrations in the spring...
...ample cause to be gloomy. A forecast by the IMF staff said that the combination of higher OPEC oil prices and the U.S. recession will force the rest of the industrial world into a stagflation swamp next year. Average inflation in industrial countries will rise to about 8.7%, and growth will fall to a meager...
...people starve by the millions or die of such blights as smallpox, syphilis or malaria. Medical care is available to everyone, and by a combination of propaganda, pay supplements, and free birth-control devices, China seems to be making some headway in its efforts to halt its ruinous population growth, by limiting couples to only two children...