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Gloomy talk rang through Washington too. Federal Reserve Chairman Paul Volcker, an independent power whose cooperation on economic strategy Reagan will need, warned the Senate Banking Committee that he intends to keep the nation's money supply growing slowly as an anti-inflationary measure, even if that policy prevents interest rates from coming down to a more tolerable level. Donald T. Regan, the President-elect's choice for Secretary of the Treasury, asserted at his confirmation hearings that "interest rates, inflation rates and unemployment rates are all expected to remain at high levels throughout...

Author: /time Magazine | Title: The Biggest Challenge | 1/19/1981 | See Source »

...dark, rainy Boston street six years ago, two policemen leaped from their car and ran toward a blue Buick that was about to pull away. Eight or nine shots rang out. A black man slumped over the Buick's steering wheel with fatal wounds in the back of his head and between his shoulder blades. As residents of a nearby public-housing project milled about, James Bowden, 25, was taken to the morgue, another casualty of the war between inner-city Americans and the nation's embattled police. The policemen said that Bowden was suspected of robbing...

Author: /time Magazine | Title: Law: Three Wrongs That Were Righted | 1/12/1981 | See Source »

...months ago. Flanked by his lawyer in a Salisbury courtroom last week, Tekere glowered menacingly as white South African-born Justice John Pittman, wearing the traditional red robe and curly wig, began reading the verdict. Pittman's dry voice droned on for 50 minutes, but his final words rang out like a shot: "All the accused are acquitted...

Author: /time Magazine | Title: ZIMBABWE: Ironic Justice | 12/22/1980 | See Source »

Your Essay "The Great Bicycle Wars" [Nov. 24] rang a bell with me. When I was young, I went to the Big Apple to seek my fortune. All I found was a job as a bicycle messenger in midtown Manhattan. I'm glad I returned to New Hampshire, where they don't have dangerous work like that...

Author: /time Magazine | Title: Letters, Dec. 15, 1980 | 12/15/1980 | See Source »

...called with good news about the early returns. Reagan's response was to cross the fingers of one hand above his head and rap on wood with the other hand. At 5:35 p.m., he was stepping out of the shower, wrapped in a towel, when the phone rang; Jimmy Carter was calling to congratulate...

Author: /time Magazine | Title: Nation: Reagan Coast-to-Coast | 11/17/1980 | See Source »

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