Word: morgans
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Dates: during 1980-1989
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...find a way to revive growth and reduce unemployment. If they resort to the traditional remedies of increasing government spending or their money supplies, they run the risk of fueling inflation and ultimately hindering growth. Wrote Rimmer de Vries, chief international economist for New York City's Morgan Guaranty Trust Co., in his respected newsletter, World Financial Markets: "It is widely appreciated today that any tradeoff between inflation and unemployment applies only to the short run, and that in order to achieve long-run economic growth it is essential to reduce inflation and inflationary expectations...
Reagan's glen plaid has good lineage. The fabric was manufactured by the British firm of Illingworth, Morris & Co. Ltd., which also furnishes the interiors of Rolls-Royce autos, the Pope's vestments and the covers for the tennis balls used at Wimbledon. White House Aide Morgan Mason (son of Actor James Mason) used to be executive director of Illingworth, Morris, and when Friend Nancy Reagan wanted some new suiting for her husband, Mason hustled over some swatches from which the glen plaid was chosen...
...dollar. As high U.S. interest rates draw funds into greenbacks, the dollar last week rose to its highest against the Japanese yen in several years, and set postwar records against the French franc, Italian lira and Canadian dollar. According to a closely watched indicator published by the Morgan Guaranty Trust Co., the dollar's trade-weighted value is now higher than it was in 1970. Fulfilling an agreement reached at Versailles, the Reagan Administration last week broke with its free-market doctrine, selling dollars in foreign-exchange markets in order to prop up the weaker currencies...
Boeing has also been hit by the glut in the used-airplane market, where prices keep getting lower and lower. Asks Morgan Stanley Analyst Wolfgang Demisch: "Why pay $30 million for a new airplane when you can get a used one for one-third that price?" The bankruptcy of Braniff Airways last month at least temporarily idled an additional 69 planes...
...hasty effort to forestall federal policing of the market, the Association of Primary Dealers in U.S. Government Securities, whose 36 members include such blue-ribbon financial firms as Bankers Trust Co., Morgan Stanley & Co. Inc. and Goldman, Sachs & Co., last week started working on some overdue ways to self-regulate their business. One proposed rule, which will probably be quickly adopted, will require that all repurchase transactions involving members must take into account accrued interest on the security. Said Association President Allan Rogers of Bankers Trust of the new rule: "Most people have favored it for a long time." Better...