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Another indication of the Federal Reserve's stiffening attitude is the rising rate for federal funds-money that banks borrow briefly from one another when they overlend to their customers. The interest rate on this money, which the Federal Reserve strongly influences, has leapt from 8.8% in late February to more than 10% today. Federal Reserve Chairman Arthur Burns recently explained: "We at the Federal Reserve are determined to follow a course of monetary policy that will permit only moderate growth of money and credit...

Author: /time Magazine | Title: MONEY: Inflationary Interest | 4/22/1974 | See Source »

...ahead of him and in the crowded doorway turned and faced him, saying "Oh, Tom." He took her hand, said "How do you do?" and walked quickly past her. After the lecture, she hurried to the speakers' table while the audience was still applauding; Polly rushed towards Eliot and leapt up at him in delight. When he ignored them both, Vivienne presented the books and asked, "Will you come back with...

Author: By Janny P. Scott, | Title: No End To Smoky Days | 3/12/1974 | See Source »

Though I tried to remain awake after reading such tales, I felt an overpowering anomalous drowsiness quite akin to being sated with green chartreuse. Once asleep, I found myself again in the cemetery. A minatory wind scuttled through the silent tombstones, and Charonian shadows leapt and grimaced with unspeakable frenzy. What was most unusual for a dream was that my nose was active, wrinkling in disgust at the fetor of rotten grass and the ichor of freshly overturned earth. This time the enshrouded figure spoke to me in hollow tones: "Ph'nglui mglw'nafh Cthulu R'lyeh...

Author: /time Magazine | Title: Books: The Dream Lurker | 6/11/1973 | See Source »

Looking more and more like a cross between Huckleberry Finn and Oliver Barrett III. Hooks Burr made himself right at home on the slippery stuff, having been a prep school hockey star in his day. Barbara Cohn, lecturer on Visual and Environmental Studies, leapt into Petkevich's arms as Helen Homans Gilbert, first woman overseer of the University, did a leg extend down on the ice and held her position--like a catatonic Cossack...

Author: By Tina Rathborns, | Title: Entr'acte | 11/13/1972 | See Source »

Before long, TIME Correspondent Stan Cloud reported, "great walls of orange flame leapt into the moonlit sky, and explosion after explosion sent showers of pyrotechnic sparks into the air." On the airport road. Cloud saw "panic-stricken refugees, clutching children and personal possessions, streaming away from the holocaust. In a field a few hundred yards from the airport, hundreds of them huddled in the predawn darkness while the false sunset of the fire blazed before them. They watched the sky as if it were some huge motion-picture screen...

Author: /time Magazine | Title: The World: Cambodia: Triumph and Terror | 2/1/1971 | See Source »

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