Word: ratings
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...that any sort of Son of Rescue plan would now be simply unacceptable. If Washington wanted anything more than disdainful sympathy for its economic malaise, the Germans indicated, it would have to stage a sustained assault on inflation itself. The U.S. could not just go on blabbering about exchange-rate instability, as if all the dollar's woes boiled down to foreigners not wanting to own the crumbling currency...
...first two items?an increase in the discount rate and the setting up of reserve requirements for offshore bank borrowings?went through smoothly enough, but the third presented a procedural problem. As a revolutionary change in Fed operations, the plan to focus day-to-day attention on actual money creation required not only board approval (which was given unanimously) but the support of the Open Market Committee, which comprises not only the board's governors but also five other representatives from the Fed's twelve regional banks. Just after lunch a conference call was arranged, unanimous support from the governors...
...investor deposits into government and corporate securities that pay more than twice what is available in regular bank savings accounts; they also permit check writing against the investments, making the whole concept rather like super high-paying checking accounts. People are now putting money into these funds at the rate of $500 million a week...
...sales results show. In September purchases by consumers rose by a very vigorous 2.2%, which was nearly twice the increase that had occurred in any previous month this year. Moreover, revised Government figures show that spending in August climbed by an astonishing 3.1%, which works out to an annual rate...
...month when the bubble burst and the world plunged into a decade-long recession recur exactly 50 years later? Many conditions today look frighteningly similar to those of late 1929. Then the panic was spawned by the Federal Reserve's attempt to nip speculation by raising the discount rate a full percentage point from 5% to 6%. The nation's banks in 1929 had built up a pyramid of foreign debt. National City Bank judged that Peru had a "bad debt record, adverse moral and political risk, bad internal debt situation"-and then lent the country $90 million...