Word: moneys
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Dates: during 1960-1969
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Fears of Recession. The big fear among bankers is that the Federal Reserve will misinterpret the decline in interest rates, which bankers regard as a sign that tight-money policies are succeeding in cooling the economy. If the Board instead concludes that lower rates signify that the nation's money supply should be tightened even more, the resulting squeeze on banks could have serious repercussions. Bankers are not alone in believing that, at the worst, additional tightening could provoke a recession. Raymond J. Saulnier, Eisenhower's last chairman of the Council of Economic Advisers, warned last month that...
...Martin recently told Congress that high interest rates are "not a goal" of the Board's policy. He implied that he would be happy to see the economy lose enough steam to let rates fall. Still, there is scant chance that the Fed will ease its squeeze on money any time soon, if only because price increases are proving so difficult to arrest...
Hungry Speculators. The swings tell less about Natomas than about the desperation of speculators and other investors to find a new outlet for their money. "People are hungering for something to get action out of," says Robert T. Allen, vice president of Shearson, Hammill & Co., the big Manhattan brokerage house. Especially hungry are the managers of "performance" mutual funds and hedge funds, both of which have sold themselves to investors on the promise that they could select stocks that would surge ahead no matter what the rest of the market did. The stocks that most of them selected-computer, conglomerate...
Life insurers have tied up with mutual funds largely in belated recognition that the two forms of investment compete directly for the consumer's money. Insurance firms are spreading into other businesses at least partly to avoid takeover by the conglomerates, which have lately been casting covetous eyes at the enormous cash reserves maintained by most insurers...
...stronger impetus toward new ventures has come from the insurers' feeling that their loans were helping other businessmen to grow wealthy while the insurance companies took most of the risk. As a result, insurers are no longer content merely to lend money for the construction of apartments, shopping centers and other structures, and collect a fixed-interest return. They demand a share in the ownership and management, and a large slice of the profits...