Word: marketed
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Dates: during 1970-1979
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Thus Miller will shortly be overwhelmed by diametrically opposed advice. Conservatives like Beryl Sprinkel, executive vice president of Chicago's Harris Trust & Savings Bank, contend that the Federal Reserve should concentrate on moderating the growth of money supply and let interest rates go wherever the market takes them. Liberal economists like Arthur Okun of the Brookings Institution retort that the Fed should concentrate on holding down business borrowing costs and not worry so much about money-supply targets...
...skill to see that it actually gets carried out. During 1977 money supply bounced around wildly, rising at an annual rate of over 19% in April, but falling at a 1.8% rate in November. The swings puzzled and frightened investors and were a contributing factor in the stock market's decline. One reason for the gyrations is that velocity-the speed with which money changes hands-speeded up and slowed down unpredictably. A change in velocity can cause the Federal Reserve's maneuvers in buying and selling Government securities to expand money supply either much more or much...
...past year or so the U.S. steel industry has resembled an aging boxing champ, once invincible but now hobbled by old bones and slow reflexes. The young contender has been imported steel, largely of Japanese origin, which in some months has seized a fifth of the domestic market. Late last fall the White House pledged to help salve the champ's wounds by toughening up U.S. sanctions against dumping-that is, selling foreign steel in the U.S. for less than it costs to make, or is sold for, in its home country. Last week the Administration announced details...
...director of the Council on Wage and Price Stability, holed up in Washington with a 20-member Japanese delegation, poring over data supplied by the visitors concerning cost of materials and labor, overhead, depreciation and the like. The conclusion: for 17 steel products that make up 75% of the market the average trigger price would be $330 per ton, or 5.7% less than the price for comparable U.S.-made products on the East Coast...
...will it become apparent whether trigger prices will actually curb imports. So far, the knowledge that a new mechanism was in the works has had scant effect on the influx of foreign steel. When the final tally for 1977 is in, imports could account for about 18% of the market, tying the record-high share they held...