Word: milde
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...economists' forecasts, which are strikingly similar for a group with such diverse philosophical views, call for a mild recession to begin in the summer. It is even possible that a recession has already begun. More likely, notes Beryl Sprinkel, executive vice president of Chicago's Harris Bank, "the economy is slowing in a pattern that is typical of a prerecession peak...
...board's forecasts add up to a difficult political challenge for President Carter. When he enters the first of the primary elections next February, joblessness will be rising and the rate of inflation, though declining, will still be high. If the recession is mild, White House aides insist that they will not follow the usual practice of trying to expand the economy in a bid for votes. Notes Democrat Heller: "The political advantage now seems to lie more in the successful assault on inflation than it does in all-out war on unemployment...
...reach $206 billion, or 9.1% of the gross national product. The White House estimates that at the present rate of increase, medical costs will double every five years, a rise far in excess of inflation. Says Dr. Richard Corlin, president of the Los Angeles County Medical Association, with only mild hyperbole: "We are now in a position to spend the entire national bud get on medical tests and procedures...
Blumenthal's forecast was not gloomy. Late in the week, the Business Council, a group of high-powered corporate chiefs, issued a prediction of a 9.5% inflation rate for the year, along with a "pronounced, although mild recession." But the Treasury Secretary's candor raised hackles at the White House, which is sticking with its inflation forecast despite much evidence that it is overly optimistic. During the first quarter the annualized rate hit a scary 13%. The Treasury chiefs frankness will surely increase resistance to the "voluntary" wage-price guidelines among both labor and business...
...Rangers, who have had eight coaching changes in ten years, responded as though given a new lease on their careers. Shero's Philadelphia teams had been noted for their rugged style of hockey, and the mild-mannered Rangers initially feared that they would be forced into the Flyers' fighting style. But Shero decided they were better skaters than his former players. He encouraged them to use their skills to ride opponents off the puck. The result: a distinctive new Ranger style that blends a swarming defense with tightly organized rushes up ice. Against the Islanders, the Shero system...