Word: short-term
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...week's bloody events in Beirut once again forced the U.S. to try to choose between short-term problems with Israel and long-term problems with the Arab states. The Israelis violated an understanding with Washington by moving into West Beirut. The massacre compounded the problem: it raised questions about the determination and the ability of the U.S. to see to it that Israel lives up to its commitments to guarantee the security of refugees in Lebanon and others in future arrangements for the West Bank and the Gaza Strip. The renewed bloodshed in Lebanon, as President Reagan noted...
...This is the first time in my memory when the outlook for the international economy is forcing analysts to scale back their short-term domestic projections here in the United States. The international picture is impinging very seriously on the domestic outlook and creating a clear fear that is beginning to spill over into domestic decision making...
...have become as closely watched as baseball box scores. For three years, the cost of borrowing money has been painfully high and shockingly erratic. This summer, however, the news from the money market has been good enough to cheer about. Since July, the prime rate that banks charge for short-term corporate loans has fallen from 16.5% to 13.5% and aroused hopes for a sustained decline in interest costs...
John Paulus, chief economist at the Morgan Stanley investment firm and a respected interest-rate watcher, predicted that short-term rates would probably fall on balance over the next year, in part because of weak corporate demands for credit. The Federal Reserve Board, he contended, would continue to ease slightly its control of the money supply to slow down the tide of business bankruptcies and promote growth. He predicted that the prime rate would dip to 11% next year before turning...
Several of TIME'S economists had slightly differing interest-rate outlooks. Charles Schultze said that a fairly strong economic recovery could cause a new surge of credit demand that might send the prime rate back up again. On the other hand, Walter Heller predicted that while short-term rates like the prime might creep lower a bit, a further cooling of inflation would result in somewhat lower long-term interest costs throughout next year...