Word: rated
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Dates: during 1980-1989
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...Year dawned, Mexico was bracing itself for a painful reality. Jan. 1 marked the start of the Pact for Economic Stabilization and Growth, the latest package of wage and price controls intended to help keep Mexico's inflation rate below 20%. But it will probably pinch workers, whose real earnings have fallen steadily since 1982, and add further stress to an economy already staggering under more than $100 billion in foreign debt...
...economists forecast that the U.S. gross national product, after adjustment for inflation, will grow a poky 2.3% in 1989, down from an estimated 2.8% last year. The economy will slow as the Fed's tightening grip on the money supply pushes up interest rates. At a growth rate of about 2% or less, most economists think the U.S. can expand without getting out of balance. "This is a slowdown the Fed can be happy with," says David Wyss, chief financial economist for Data Resources...
...that pace keeps up, the Fed may boost interest rates to restrain growth. Says Sinai: "The Fed has already tried to introduce a mild dose of tightening to slow the economy. But it just isn't working so far." Interest rates have been steadily climbing since March. The federal funds rate, which is the interest that banks charge one another on overnight loans, has increased from 6.5% to nearly 9.5% during the past nine months. Economists polled by TIME estimate that the prime lending rate will climb from its current 10.5% to 11% by June but will end the year...
...real bind right now. It is going to have to walk a tightrope. And if it doesn't act soon, the financial markets will lose confidence." Says Melton: "In principle, this can be done with such awe-inspiring precision that the economy slows down to a growth rate of exactly 2% and inflation starts to slow. But as a practical matter, it rarely works out." If credit is too tight, the resulting interest- rate run-up could trigger a recession. And if the Fed allows inflation to quicken, the markets will grow panicky and the dollar could grow shakier...
...recently chose the Kings' video of their Bamboleo single for its "Pick of the Week," and the band is hardly shy around sentiment. Its version of the French original that was the basis for the shudder-inducing My Way has enough panache, never mind schmaltz, to rate a permanent slot on the juke at any local Irish bar. Right next to the Bulgarian women, more than likely...