Word: nationalizes
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Dates: during 1970-1979
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There were numerous handy explanations. From Washington came the unsettling news that the nation's index of leading indicators slipped 1.9% in January, the biggest dip in three years, while inflation speeded up. From Europe came a newspaper interview with West German Economics Minister Otto Graf Lambsdorff, who said that he "could not exclude" the possibility of the dollar's sinking...
These were more excuses than reasons. Behind them remains the fundamental problem: the U.S., by spending more abroad than it earns, is spilling out dollars faster than foreigners can absorb them. The measure of that outflow is the nation's trade balance, and it has been deteriorating. Last week the Commerce Department announced that during January the U.S. imported $2.38 billion more than it exported. That was the biggest monthly deficit since last October and more than 40% larger than the January 1977 figure...
...approve Miller's confirmation. The full Senate then approved the nomination by a simple voice vote. As a result, Miller will swiftly be sworn in and will again testify before Congress this week -this time telling the House Banking Committee what he proposes to do as the nation's top central banker...
...nation's most widely watched measure of inflation by far is the Bureau of Labor Statistics' consumer price index. As inflation has embedded itself in American life, the CPI has become possibly the most important economic statistic issued by the Government. Escalator clauses tie the incomes of perhaps half of all Americans to movements in the CPI; among them are 8.5 million wage earners, 31 million Social Security recipients, 20 million people who receive food stamps, and 2.5 million retired military and federal employees. But the index has had two serious drawbacks: it is based on the spending...
...Paso Sonatrach will cruise into Chesapeake Bay next week on a historic voyage. The $100 million tanker will tie up at Cove Point, Md., a once bucolic spot on the western shore of the bay. There, it will discharge liquefied natural gas (LNG) from Arzew, Algeria, into the nation's first superport designed specifically to receive...