Word: set
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Dates: during 1970-1979
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...sheer scariness of it all was what set off the really huge midweek selling spree on the Big Board. The dumping spread, irrationally, not only to the commodities and futures markets but also to the international currency centers. Out of fear and uncertainty, traders who had been buying dollars on Monday on the logical theory that the Fed's moves would strengthen the greenback abruptly began selling them again...
Left to itself, the accelerating demand for credit would have quickly pushed interest rates far beyond the target that the Federal Reserve had set. For instance, interest on six-month Treasury bills, which is used as a guide for regulating interest on certain bank deposits, would have leaped alarmingly. To keep money markets stable, the Fed's so-called Open Market Desk in New York was forced to begin making more and more money available to banks in order to satisfy demand for funds. Indeed, though the Fed's own inflation-cooling monetary growth target was 4.5%, which is just...
...Federal Reserve rule, customers have to put up at least 50% of their own funds. The Fed can also slow bank credit to stop speculation from feeding a boom, a step it took last week. In addition, there was no watchdog Securities and Exchange Commission in 1929 (it was set up in 1934). Today the SEC closely polices financial markets to stop inside dealing and fraudulent company reports, which were rampant in the '20s. While a stock market fall is always possible, it is less likely now to ripple through the economy...
Record interest rates set best-laid plans agley...
...nail down a dangerous strategic imbalance." He urged the Senate to postpone consideration of the treaty until the U.S. has strengthened its strategic forces. But the normally hawkish Armed Services Committee chairman, Mississippi Democrat John Stennis, replied that the Senate has devoted too much time to SALT to set it aside now. Said Stennis: "I just believe it best to go on and take advantage of the hearings we've had and debate the matter...