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...that interest rates will go up a bit more, but not much; that Miller will get the money supply under control; that loan demand will fall as the economy slows; that Government borrowing will be heavy, but enough money will be left to meet the reduced borrowing demands of most???not all ?companies and individuals...
...Brown in California. In a remarkable last-ditch effort by the anyone-but-Carter forces, he was upset in New Jersey by an uncommitted slate pledged to Brown and Hubert Humphrey (Who could resist the offer of two candidates for one vote?). But Carter won big where it counted most???in Ohio, the nation's sixth largest state. Competing against both Udall and Church, Carter carried 52% of the vote, which was twelve points higher than his most optimistic forecasts. Ohio gave him 126 delegates, and that...
Redford was also disappointed by the script. It lacked details and substance on the matter that had come to interest him most???the newsgathering process. At this point, Bernstein took a crack at rewriting the script, but that, too, proved a mistake. Bernstein apparently built up his image as the more swinging member of the Woodstein team. "Carl," Redford told him, "Errol Flynn is dead." Thereafter, as Bernstein puts it, "Redford got on the script in a concentrated way." He squeezed a couple more revisions out of the miffed Goldman, who was eager to get on with adapting his Marathon...
...major change in strategy. Although many union leaders, including Meany, originally threatened to fight the 90-day freeze, they soon backed away from that stand. For one thing, a court test of the ban on wage raises negotiated prior to the presidential freeze?the provision that unions dislike most???might well take longer than 90 days. A more embarrassing reason for the retreat was the absence, so far, of any significant clamor against the freeze on the part of rank-and-file union members...
...event demand heats up too much, Lyndon Johnson's economists will recommend one or more restrictive moves, probably in this order: cutbacks in domestic spending, still-tighter money, higher withholding rates for income taxes (up from 14% to 20%), and lastly, temporary tax increases. The step that businessmen fear most???general , and deflationary controls on prices, wages, profits, materials, mortgage and installment credit?would be taken only as a desperate final resort. Johnson almost surely will not turn to controls for the key reason that defense spending is unlikely to amount to more than 8.5% of the G.N.P. as against...