Word: indexable
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...charged with making. "We have clenched the fist with mass resistance," he said, "and we can only open it in two ways; we can open-it in brotherhood if the system has the capability of responding to immediate human needs, or we can open it to curl the index finger around a trigger guard...
...Socialists in the government; they wanted a member of their own party to head the bank. So he left Lavoro in 1966 and was asked to run R.A.S. When another major insurance company began tying the cash value of its life policies to the cost-of-living index, Lolli was faced with keen competition. Although he considered his competitor's plans unsound, he had to offer his own clients a hedge against inflation. "I had to give my R.A.S. agents something extra to sell," says Lolli-and he decided on mutual funds...
...handful of small banks. Though executives of most major banks have scoffed at the reductions as premature, last week's mix of economic fact and forecast strengthened Wall Street's conviction that easier money is on the way. One indication: the Dow-Jones Municipal Bond index declined last week to 6%, the lowest level since last October...
...cars dropped 19% below the same period last year. General Motors scheduled temporary shutdowns of ten assembly plants, Ford of six. The two automakers announced indefinite layoffs for 5,200 workers. The Government reported a 6% January drop in durable goods orders, the sharpest decline since 1964; and the index of leading indicators dropped 1.8% in January, its largest decline since October 1957, when the economy was heading into the deepest postwar U.S. recession...
...Federal Reserve has continued monetary restraint so long because its members fear that inflationary pressures are still great. The consumer price index in both December and January rose at a startling annual rate of 7.2%. Members of the Board of Economists, however, are confident that the rate of price increases will soon begin to slow. They insist that the "pause" they foresee, whether or not it qualifies as a recession, will remove inflationary steam from the economy. Says Okun: "The amount and magnitude and duration of the current slowdown will begin to affect the price and wage curves...