Word: result
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Dates: during 1970-1979
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Miller's mistake had been to assume that the Fed's orchestration of the highest interest rates in five years would alone be sufficient to discourage borrowing and spending. Through the first half of 1979, business was actually slowing somewhat as a result of bad winter weather and the gasoline squeeze, which together put a crimp in consumer purchasing. The Fed even began to fear that its seemingly draconian interest rates were pushing the economy headlong into recession...
...real estate, gold or simply a new mink coat. Over half of today's market is dominated by professional investors representing pension funds, insurance companies or mutual funds. They have better financial backing and are far less likely to take a flyer than were their predecessors. As a result, the market is less fun but more stable...
...measures to avoid another Crash and Depression have "put a floor under the downward movement of the economy." This guarantee against disaster, in Heilbroner's view, has changed economic expectations so much that corporations raise prices and unions demand higher wages more recklessly than they otherwise would. The result is faster inflation. Thus the cure for the Great Crash, seen from this perspective, has created side effects that must be treated if the nation is to avoid the Great Inflation...
...government official warned that some big-bank failures may lie ahead, partly as a result of the Federal Reserve's actions. See story on page 3. For an explanation of the Fed's new approach to monetary policy, see page 7. In St. Louis, officers of the Federal Reserve Bank there were pleased because they had long advocated such a move. See story on page 6. In the nation's money markets, large certificates of deposit and other short-term instruments quickly matched the one-point rise in the discount rate. See story on page 2. Foreign...
From the Appalachians to the Rockies, the combines are churning through our land. Some of these $100,000 monsters can spew out $118,000 worth of soybeans in a day. The U.S. crops-the result of near perfect weather, rich land, technology and extraordinary enterprise-will be worth $61 billion this year (up 17% over last year's record of $52 billion...