Word: six-month
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...most concrete evidence of such a process was the unexpected approval by the House Interior Committee of a six-month moratorium on all new nuclear plant construction or licensing. Chairman Morris Udall had urged postponement of the vote until after a full investigation of the accident at Three Mile Island, Pa. But he found conservative Republicans joining liberal Democrats to pass the measure, and the full House is expected to pass it as well. Said Udall afterward: "The potential is there for making nuclear power the centerpiece of politics in 1980. It has an intensity of its own." Representative Edward...
When it comes to saving money, affluent people get a break. Those who put $10,000 or more into six-month money market certificates can collect interest at roughly 9.5%, while small savers are limited by law to earning only 5% from commercial banks and 5.25% from savings institutions on their passbook accounts. Last week federal banking authorities proposed new measures to redress this imbalance and encourage saving...
Paul Samuelson, 63, economist, Belmont, Mass. He points to studies going back to the 1920s to show that "putting money out at the shortest intervals has been the best hedge against inflation." So Samuelson recommends that investors place their cash in six-month certificates of deposit in savings banks; or in the money-market funds-open-ended mutual funds that invest in short-term securities such as certificates of deposit, commercial paper and Treasury bills-that offer check-writing privileges...
...fact, for many Americans, today's high rates have become a bonanza. The reason: since June, banks have been offering money market certificates. These are six-month time deposits that pay interest equal to-or when sold by a savings and loan, a quarter-point better than -what the Government has to offer to sell its six-month Treasury bills. And while regular bank certificates of deposit normally cannot be had for under $100,000, MMCs sell for as little as $10,000; many people have switched their savings to them...
...protect themselves against future price boosts, and of companies to pass along all cost increases and add a bit more, makes inflation accelerate. At first Carter contented himself with pleas for restraint and named Robert Strauss as special counsellor on inflation to do some mild jawboning. Strauss's six-month tenure will be remembered mostly for one rueful wisecrack: "The score is inflation 100, Strauss 0." In October, Carter replaced him with CAB Chairman Alfred Kahn and proclaimed formal guidelines with some teeth. The rules: labor should hold wage and benefit increases to an average 7% annually, and companies...