Word: rising
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Dates: during 1980-1989
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...most comprehensive measure -- the gross national product of goods and services -- the U.S. expansion is still moving forward. For the first three months of the year, GNP increased at an annual rate of 4.3%, the largest quarterly gain since 1984. While that surge partly reflected a rise in the production of unsold goods that will probably not be repeated in the second quarter, it was welcome news. The employment statistics provide further evidence of the economy's momentum. In April the jobless rate fell to 6.3% of the work force, down from 6.6% the previous month...
Moreover, most forecasters agree that the expansion still has a way to go. Says Alan Greenspan, a New York City-based economic consultant: "We are going to slug along." The consensus forecast of 51 economists and institutions surveyed in the Blue Chip Economic Indicators newsletter is that GNP will rise 2.5% this year and 3% in 1988. The Administration maintains its own optimistic forecast: 3.2% growth for this year...
...down in value by about 8% against major currencies so far this year, poses the greatest threat to such hopeful scenarios. The weakened greenback has contributed to an increase in inflation, since a falling dollar tends to drive up import prices. But most economists predict that consumer prices will rise this year by no more than 5%. Says University of Minnesota Professor Walter Heller: "I don't think the elements are there for inflation to feed on itself." Still, skittishness about inflation last week led to a dramatic spurt in the bellwether Commodity Research Bureau Index, as investors anticipated that...
...weakened dollar has already forced up interest rates by reigniting more inflation fears. Investors are now demanding a higher return on fixed-income investments. From mid-March to the end of April, the yield on 30-year U.S. Treasury bonds jumped from 7.5% to 8.5%, a remarkably swift rise. By the end of last week, yields had surged to 8.9%, the highest level in 15 months. The Federal Reserve Board allowed rates to climb in order to prop up the dollar. Higher interest rates bolster the U.S. currency by making dollar-denominated investments more attractive to foreign investors...
...quite natural and easy to be internationalist after 1945, World War II had made us painfully aware of our ties to other parts of the world and our stake in avoiding another global conflict. Russia's march into Eastern Europe and Mao Tse Tung's rise to power made us all fear communist expansion and appreciate that we could never again enjoy the pleasures of isolation...