Word: offing
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Dates: during 1960-1969
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Some of the loopholes were deliberately allowed to stay open, authorities admit. Federal Reserve officials feared that if they had closed every gap in the regulations, some banks might have failed. In a banking system based on confidence, that might have touched off a financial panic, something that the Federal...
(8 of 10) inflationary pressures.
Businessmen are still borrowing expansively and betting on continued inflation. They figure that demand will remain high, and so they had better build plants and buy equipment now instead of waiting until prices go up still further. Despite dwindling profits, scarce credit and excess capacity, the Government's latest survey...
Still, economists generally agree that the economy now shows plenty of signs of losing momentum. As interest rates climbed to the highest peak in more than a century, housing starts fell sharply and the bond markets approached collapse. Banks, the principal buyers of municipal bonds, were short of funds and...
Yet prices, which often continue rising long after general business turns soft, have continued to climb. They are rising faster than wages?and wages are rising faster than workers' productivity. When productivity slackens, real labor costs go up, and companies often make up the difference by increasing the prices of...