Word: overheat
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Dates: during 1980-1989
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Only a few months ago, there was growing concern that the economy might overheat and generate sharply higher interest rates and inflation. Brisk loan demand and the Federal Reserve's tight policy pushed the prime rate that banks charge business borrowers from 11 % early in the year to 13% by summer. That increase in interest rates now seems to be helping slow the economy to a more moderate rate of expansion...
...unsettling. They point to an alarming bulge in M1, the basic money supply, which consists chiefly of currency and bank checking accounts. In the past six months, M1 has been growing at a 13.5% annual rate, despite a $3.2 billion drop reported last week. That pace could eventually overheat the economy and spark a new run-up in prices. The Fed's announced target range for M1 growth for the year is 4% to 8%. Says Rudolph Penner, an economist at the American Enterprise Institute: "If there's no clampdown on the money supply very soon, inflation will...
Santas have different reasons for donning a bright red suit and stuffing themselves with pillow to freeze on a windy sidewalk or overheat in a stuffy department store. But all of them have an answer to the age-old question. "Santa, how did you come over from Filene's so quickly...