Word: interest
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Dates: during 1970-1979
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...forecast is subject to error. The most President Carter will concede is that real G.N.P. growth next year may fall below his official target of 3%. The Administration script calls for a "soft landing"-two or three quarters in which output gains are small but nonetheless real. High interest rates, in the opinion of Carter's advisers, no longer bite down as hard on business activity as they once did, and so far there are no signs of the imbalances, like a pile-up of inventories, that usually precede a slump...
...MONEY. Excessively fast growth of the nation's money supply has been an important cause of inflation. The Federal Reserve has created so much money partly to cover budget deficits, partly to meet the credit demands of a growing and inflationary economy. Throughout 1978 the Fed kept letting interest rates rise to discourage borrowing; banks raised the prime rate 14 times, by a total of almost 4 points, to 11.5%. Loan demand stayed high, however, and money supply kept bounding up; in September it rose at an annual rate of 15.8%. But the cumulative effect of the interest increases...
...attitude among Americans, who figure that prices are not going to go down and if they see something they like, they had better buy it now. Economist Alan Greenspan estimates that an unprecedented 25% of the average household's after-tax income now goes to meeting interest and principal payments each month, and that "there are a significant number of households that allocate 40% or more of their income to debt service...
...Budget it has become a real nightmare. When W. Bowman Cutter, the aptly named Associate Director of OMB, drifts off to sleep these nights, his dreams run regularly to visions of hands that keep grabbing at him from all directions. The symbolism is plain: the hands belong to various interest groups that are desperately appealing to him to be exempted from budget cutbacks. Less than a month remains before Jimmy Carter presents to Congress his spending program for fiscal 1980, and Cutter and his OMB colleagues are locked in a furious struggle with almost the entire federal bureaucracy. The goal...
...Interest in Mexico's energy wealth reached fever pitch last month, when Pemex, the government monopoly, revealed the latest strike in the Chicontepec field near the Gulf Coast city of Tampico. Pemex Chief Jorge Diaz Serrano estimated that the field would double the country's potential reserves of oil and gas to more than 200 billion...