Word: propping
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Dates: during 1970-1979
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...steadying at week's end, no one could be sure the improvement would continue. The bleakest aspect of the fall is that no measures designed to strengthen the dollar seem to work any more. The U.S. at the start of the year began buying unwanted dollars to prop up their price; that intervention, which Europeans insisted was too brief, accomplished nothing. The Swiss in the past two weeks have taken a series of drastic steps to stop the rise of the Swiss franc against the dollar; among other things, they lowered interest rates to as little as 1%, imposed...
THAT IS PERHAPS Cunningham's greatest gift, as the performances last week made clear. His work explores the processes of the body, but its effect also allows the onlooker to explore the processes of the perceiving mind. He gives us the dance: wondrous, self-delighting motion without any prop of plot or theme or explicit significance. And watching the dance, one becomes aware of the mind's response: a subjective discernment of plot and pattern, and the shape of ritual; a perception of the grounds of symbolic recognition in the flowering of unburdened form...
...businessmen, the contradictions appear to mirror an equally mixed-up management of the economy by the Carter Administration. Policy zigged from talking up a tough tax reform to abandoning most of it, zagged from professing unconcern about the dollar's slide to intervening actively in currency markets to prop up the greenback. Noting Carter's propensity for listening first to one economic adviser, then to another, Washington wits began quoting, accurately or not, a scathing description of Franklin Roosevelt supposedly offered by Economist John Maynard Keynes: "The President is like a big, fluffy pillow. He bears the imprint...
...Dollar. It steadied after Washington began buying up unwanted greenbacks to prop their price, but dipped a bit again at week's end, apparently because Carter's State of the Union speech failed to convince foreign moneymen that the Administration has a handle on the economy's problems. In the long run, dollar stability will depend on U.S. progress in reducing its gargantuan trade deficit of almost $30 billion?and not much progress is expected this year. Congressional passage of an energy bill?almost any energy bill ?would help by demonstrating American determination to cut oil imports, the biggest...
...timing was unusual: major shifts in U.S. financial policy are not normally put into effect while the President is jetting around the world on a goodwill tour. But action to prop the falling dollar could not wait. When currency markets around the world reopened last week after the New Year holiday...