Word: restraining
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...consider the talk of recession premature," he said last week. Indeed, he warned of even tighter money to come. "If the restrictive actions already taken by the Federal Reserve do not reduce growth of money and credit to an acceptable rate, further measures will be adopted." In order to restrain the boom without killing it, though, Burns and his colleagues will have to exercise exquisite timing and judgment in deciding just how rare and costly to let credit become...
...they were stirred by outsiders. This year there is internal peace, broken only by external attacks." With emotion Micombero added: "I am trying to consolidate the unity of my country, and would like to see our brothers outside our borders return and settle down to a guaranteed peace." To restrain excesses he has helicoptered to the South several times in recent weeks. But the bloodshed is bound to continue until his fellow Tutsis once more feel unchallenged in their dominant role in Burundi...
...plight of the economy is largely attributable to the Nixon Administration's free-spending efforts to lift prosperity before the election last year, and its failure to restrain the boom that it had created. Even Shultz concedes that fiscal and monetary policy was much too expansive in the past. Some economists argue that those mistakes are now being corrected. For example, Walter Heller, chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson, believes the Nixon Administration's fiscal and monetary policies are now just about right, and that the chances of real recession are less...
MONEY: Hoping to slow down the economy and restrain inflation, the Federal Reserve Board made credit costlier and tighter. The Fed raised the discount rate by ½%, to 7%-equaling the alltime high set in 1921. It also raised bank reserve requirements, which will make credit harder to get. These moves will certainly send up short-term interest rates. Banks will probably increase their prime lending rate to businessmen by ¼%, to a very steep 8%. The Fed acted in part because credit demand has been so great that the nation's money supply expanded at a dangerously high...
...money make it more difficult for would-be investors to buy stock, and tend to drain money out of the stock market into bonds and savings accounts, where interest yields are high. Further, every inflation brings with it the threat of a subsequent recession caused by Government efforts to restrain an inflationary boom-a distressing thought to stock investors...