Word: lending
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...really care, there is a state auditor. Essentially, the state auditor should be a watchdog over government in the Commonwealth. But the rash of public service scandals in the State House does not lend much credibility to the state auditor these days...
...struggling families indistinguishable from Clifford Odets or Arthur Miller characters. But by the '40s he had found his own voice, a Shavian mix of irony and poignance. Since then the supple prose has been, like Cheever's, dominated by sexual themes and by the attempt to lend common experiences and ordinary people a secular grace...
Investors' overriding worry, however, is not the dollar but interest rates. Last week the Federal Reserve Board acted to push the "Fed funds" rate at which banks lend to one another to nearly 9%, a level that Economist Okun believes-almost guarantees recession by making borrowing more expensive. Nor is there much hope that the rises in loan charges will stop. The Federal Reserve has been jacking up interest rates largely in order to contain an inflationary increase in the U.S. money supply, but so far it has failed. Money supply during the past month has shot...
They are similar kinds of players, to an extent. Both are experienced (Clark's a three-year starter); both play with power and uncanny consistency; and both lend a quality of quiet, non-rah-rah leadership to the Harvard program. And both are very, very good...
...past month the board has let the rate for Fed funds, uncommitted reserves that banks lend each other, rise from 8⅜% to 8¾%. The Fed funds rate serves as a floor for most other short-term rates. Then last week the board increased the discount rate, the interest charged by the board for loans to member banks, from 8% to 8½%, the highest level ever. A key motive for the Federal Reserve's money moves has been to halt a sharp and inflationary increase in the money supply. Also, the Fed is trying to forestall further...