Word: offs
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Dates: during 1970-1979
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Another threat is OPEC. Some of the economists expect the oil cartel to go on raising prices from the present average $16.40 per bbl. to about $18 by year's end. Higher fuel costs would both fan inflation and be an added tax on Americans' disposable income, thus...
Generally, board members believe that there is little more the Government can or should do to change the course of the economy for the rest of the year. Any further fiddling with broad policy now would probably worsen either inflation or recession-or both. Says Greenspan: "If inflation is public...
Most of the TIME economists are satisfied with the Federal Reserve Board's middle-of-the-way monetary policy. One exception is David Grove, who argues that a much tighter money policy and a deep recession are needed to wring inflation out of the system. As the recession deepens...
But if the recession hits later and harder, kicking up unemployment to unexpected highs, the pressure on Carter will be intense. Says one White House insider: "If the President is in trouble come New Hampshire, and the attacks are coming from the left, all bets are off." Good economics, as...
Selig admits that the Administration's relations with business got off to a bad start, but insists that they have become better.