Word: shockingly
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...addition to creating long lines at gasoline stations, the oil price shock exacerbated what was already an intensifying buildup of inflation and inflation expectations. In another echo of today, the inflationary situation was further worsened by rapidly rising prices of agricultural products and other commodities...
...what households and businesses expect to happen to inflation in the future, particularly over the longer term. If people expect an increase in inflation to be temporary and do not build it into their longer-term plans for setting wages and prices, then the inflation created by a shock to oil prices will tend to fade relatively quickly. Some indicators of longer-term inflation expectations have risen in recent months, which is a significant concern for the Federal Reserve. We will need to monitor that situation closely. However, changes in long-term inflation expectations have been measured in tenths...
...good deal of economic research has looked at the question of why the inflation response to the oil shock has been relatively muted in the current instance.5 One factor, which illustrates my point about the adaptability and flexibility of the U.S. economy, is the pronounced decline in the energy intensity of the economy since the 1970s. Since 1975, the energy required to produce a given amount of output in the United States has fallen by about half.6 This great improvement in energy efficiency was less the result of government programs than of steps taken by households and businesses in response...
...Although our economy has thus far dealt with the current oil price shock comparatively well, the United States and the rest of the world still face significant challenges in dealing with the rising global demand for energy, especially if continued demand growth and constrained supplies maintain intense pressure on prices. The silver lining of high energy prices is that they provide a powerful incentive for action--for conservation, including investment in energy-saving technologies; for the investment needed to bring new oil supplies to market; and for the development of alternative conventional and nonconventional energy sources. The government, in addition...
...faced several meetings in recent years—including November’s infamous debate—in which the Faculty failed to meet quorum, the Faculty put a proposal to lower quorum from one-sixth to one-eighth on the agenda for the next meeting. Perhaps out of shock at having accomplished something during the February meeting, or maybe out of fear that the meeting would not reach quorum itself, the Faculty decided to cancel their March meeting, putting off their discussion of the quorum question until April’s meeting, at which they failed to meet quorum...