Word: outflows
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Dates: during 1960-1969
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...become almost fashionable in Washington to worry about the U.S. balance-of-payments deficit, that longstanding cause of the U.S. gold outflow. Economists frequently deplore it, businessmen point to it with alarm, and the Administration itself has put some of its best minds to work combating it. Thanks to all the fuss, the balance-of-payments problem may no longer be such a worry. Last week Treasury Under Secretary Robert V. Roosa told the House Banking and Currency Committee that the U.S.'s payments deficit in the second quarter of 1962 was very much smaller than in the first...
...April, exports climbed to an annual rate of $21.5 billion, a near record, putting the balance of trade at an annual rate of $5 billion in the U.S.'s favor. The hopeful balance-of-payments figures were also helped along by a decrease in short-term capital outflow (thanks in part to devaluation of the Canadian dollar) and the prepayment by France of $293.4 million owed to the U.S. Last week's drop in the gold supply to a 23-year low, which alarmed many who read the financial pages, was largely accounted for by a single transaction...
...industrial growth both here and abroad could be retarded." The British are also jumpy about U.S. talk of a coming recession, and some English bankers think that the Kennedy Administration may help bring one on by the anti-inflationary policies that it is using to stop the U.S. gold outflow and shore up confidence in the dollar. "The world's currency difficulties are now exerting a clear deflationary influence on the world economy," says the Economist, which finds the situation uncomfortably reminiscent...
...Federal Reserve Board goes this way: since the Government's two-year-old policy of easy money has not stimulated much borrowing for business expansion, a slight tightening of short-term rates should not affect capital spending very much-but should help slow the nation's gold outflow by narrowing the spread between interest rates at home and abroad. In pursuit of this new policy the Federal Reserve has lately been reducing the nation's lendable money supply, and the Treasury has been trimming the amount of short-term credit available across the country by about...
...Congressman F. Edward Hebert's subcommittee, who had been critical of McNamara's plan to reform the reserves and National Guard. Later in the week, Gilpatric went back to the White House with McNamara for a conference on overseas defense spending as it affects the U.S. gold outflow. Then McNamara took off for a short holiday with his family in Michigan and confidently left the Pentagon in Gilpatric's hands...