Word: reals
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Dates: during 1960-1969
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Some high Administration officials have come closer than ever before to saying that recession may be the price of curbing inflation. At a meeting of the Business Council in Hot Springs, Va., Treasury Secretary David Kennedy predicted last week that in early 1970 there will be a decline in real gross national product. While Kennedy would not use the word recession, some economists define recession as a decline in real G.N.P. for two straight quarters...
...contrast, Bill Martin over the years has been much more worried about the perils of recession. Martin's real hallmark at the Federal Reserve was a willingness to switch from easy-to tight-money policies and back again as he thought the situation required. He cooperated with the expansionist policies of President Kennedy when the nation's economic problem was sluggish growth and persistent unemployment. In late 1965, however, he refused to accept Lyndon Johnson's line that the U.S. could escalate the Viet Nam war, keep taxes and interest rates down and still avoid inflation...
...Jones average going below 800-as it did for a few hours two weeks ago-are now warning their clients of the dangers of missing "the turn" on the up side. In their view, any easing of monetary policy, whenever it comes, would start a strong rally. And any real move toward peace could send stocks soaring...
...cyclamates, ordered by HEW Secretary Robert Finch last week, might hit millions of weight-watchers in the waistline, but it is a real body blow to the rich diet-food industry. In the 20 years since cyclamates were discovered, sales of products containing the nonnutritive sweeteners have risen to $1 billion annually. An estimated 21 million pounds of cyclamates will be consumed this year. The biggest manufacturer, Chicago's Abbott Laboratories, figures that cyclamates account for 4% of its sales, which were $351 million last year...
...experimenting with other "formulations" for their Tab and Fresca diet drinks, and will probably switch to some other low-calorie sweetener. PepsiCo, which was obviously not caught napping, immediately announced that it will begin marketing within a few weeks cyclamate-free Diet Pepsi-Cola "with a touch of real sugar...