Word: loosening
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...feel compelled to strike a bargain with the Federal Reserve. He might order modest increases of perhaps 5% in personal and corporate taxes in exchange for a reduction of ½% or ¾%, in the board's tight-money rate. This would raise approximately $4.5 billion in taxes and loosen credit considerably. There is little betting in Washington on what the President will do; he says that he has yet to make up his mind. A failure to say anything until his State of the Union message in early January would leave the economy floundering for another long month...
...changed in Britain since then. Successive sterling crises have demonstrated to all but the most insular Britons that Little Englandism will not work in the modern industrial world. Britain's once-binding ties of trade with the Commonwealth have continued to loosen, dropping in 1956 from 40% of all British trade to a mere 28% last year. British public opinion-including an estimated 90% of businessmen-has clearly swung round in favor of joining Europe...
Chances are better that inflation will slow down, that money will loosen, and taxes will not go up. The American people want to curb Government non-defense spending, and federal and local legislators will have to oblige them. While the recently passed Great Society programs will not be jettisoned, new programs will be viewed with a cooler eye. All that, in the opinion of U.S. businessmen, is the meaning of last week's election...
Either a slowdown in non-defense spending or an increase in taxes or both would enable the Federal Reserve to loosen the money supply and reduce interest rates. The Fed is openly fed up with Johnson's policy of forcing it to carry on the anti-inflationary crusade alone. Yet it has already been so successful in cooling the overly exuberant economy that the worst of the money shortage appears to be over. The board for three weeks has been rationing out more money to its member banks, and some interest rates have retreated from their 40-year highs...
Dean Monro yesterday suggested that the College might eventually "loosen up" the sophomore curriculum by extending the freshman seminar program and by opening independent study to sophomores...