Word: points
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Dates: during 1970-1979
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...policy, see page 7. In St. Louis, officers of the Federal Reserve Bank there were pleased because they had long advocated such a move. See story on page 6. In the nation's money markets, large certificates of deposit and other short-term instruments quickly matched the one-point rise in the discount rate. See story on page 2. Foreign-exchange traders, happy about the Fed's actions, sent the U.S. dollar up by 2%; gold fell more than $17 an ounce. See story on page 3. But the U.S. stock, bond and commodities markets were less sanguine...
...thing the Ayatullah does seem to know: that Iran's revolution will go its own way regardless of what outsiders think. "If you foreigners do not understand, too bad for you," he said at one point. "It's none of your business. If some Persians don't understand it, too bad for them. It means they have not understood Islam...
Until recently, Giscard was able to stay regally above the political fray, letting Barre run the country on a day-to-day basis and, conveniently, leaving him to take the heat for unpopular decisions. But now, says Jeanne Labrousse, director of the polling institute I.F.O.P.: "We have reached the point where discontent is so high that Barre cannot absorb it all himself." According to Jacques Attali, a leading Socialist economist, the reason is that Giscard and Barre can no longer promise light at the end of the austerity tunnel. Says Attali: "The French are losing hope." According to a survey...
...mood has forced Giscard to modify his Olympian stance. "The feeling of Frenchmen can be characterized by three attitudes: discontent, doubt and worry," he admitted on national television. Even as he spoke, that discontent was being aggravated by new government austerity bites: a punishing jump of a full percentage point in employees' social security contributions and increases in the government-controlled prices of items ranging from rail and air tickets to cigarettes and gasoline (to $2.75 per gal.). Charged Georges Séguy, head of the Communist-dominated C.G.T. union: "This is not austerity, it's plunder...
...endeavors." He was supremely self-confident; if prevailing opinion was that a device could not be invented, that only made Edison more convinced that it could. And Conot depicts a man who was totally open-minded about how to proceed-until he came to a conviction, at which point he turned into a doctrinaire fanatic...