Word: interest
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Dates: during 1970-1979
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...said in a speech he gave in England last November: "A stronger and stabler dollar is plainly in the interest of the U.S. and the world. These recent months have been instructive to all-a sliding dollar undercutting our own anti-inflationary effort, generating uncertainty at home and abroad, hurting growth...
...practice, this policy means a dedication to high interest rates, even as the clouds of a recession loom. Said Volcker last week: "I don't think recessions in and of themselves are ever a great thing, but I don't think you just inflate yourself out of a recession either." Twice this spring, at Federal Reserve System policy meetings, Volcker voted in the minority, against Chairman Miller, in favor of raising interest rates. By appointing him, Carter appears to be giving a sign that he will not dilute his anti-inflationary policies in order to stop an election...
...some ways, the President is symptomatic of the political age. The procession of candidates now forming to challenge Carter in the 1980 election reflects fundamental problems of leadership. The two who display some size and fire, John Connally and Ted Kennedy (who is resolutely undeclared but watching with interest), come with reputations shadowed by their pasts. California Governor Jerry Brown, with his sleek vocabularies of "planetary realism," sounds like an item from The Whole Earth Catalog. Brown possesses a disco Jesuit allure and what seems to be a gut instinct for the politics of the future...
...Frank Shorter, 31, has often set the pace. At the 1972 Munich Olympics, the Yale graduate became the first American in more than 50 years to win the marathon, and the attention he received helped quicken interest in the running boom. In 1976 Shorter came back to win a silver medal in Montreal. His 140-mile training weeks left him little opportunity to support himself as a lawyer, however, so he challenged the Amateur Athletic Union's rules prohibiting sports-related income. In a precedent-setting case that has helped other athletes, Shorter convinced the A.A.U. that his manufacturing...
...Robert Embry, 41, successfully guided Baltimore's redevelopment program from 1968 to the mid-1970s?using low-interest mortgages to attract middle-income residents to downtown and turning the blighted inner harbor area into a showplace of refurbished row houses and new businesses. He caught the eye of Carter, who appointed him Assistant Secretary of Housing and Urban Development. As the Administration's point man on urban distress, one of the toughest jobs in town, Embry created the Urban Development Action Grant program that is helping to save 327 distressed urban areas by encouraging private investment. To qualify for UDAG...