Word: recessional
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Dates: during 1950-1959
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"Improvement has come somewhat sooner and more vigorously than many observers had perhaps anticipated." So reported the monthly review of the Federal Reserve Bank of New York last week. The 1958 recession, said the review, probably reached its low point in April, and it was the shortest and the most...
Despite the business improvement, unemployment was still high. The Government last week reported that, while employment rose to 65,179,000 in July, the drop in unemployment was smaller than usual. Because large numbers of new workers are entering the working force (55,000 in July alone) and heavy rains...
Fed Fumble. But in June the merry-go-round slowed down, as the recession bottomed out and business started up. Speculators, anticipating renewed inflation and Government tightening of credit, started getting out. As Government bond prices fell, shoestring speculators were forced to dump their holdings, driving down prices more. One...
IN Washington and Wall Street, the big worry is the galloping ghost of inflation, returning to haunt the U.S. economy even as it comes up out of recession. Said Chairman Raymond Saulnier of the President's Council of Economic Advisers last week: "Inflation is the problem now." But the...
Only six months ago, the cry was that the Government was doing too little too late to cure the recession; now, with the economy on the upgrade, it is plain that a far bigger mistake would have been to do too much too soon. Says an Administration economist: "An antirecession...