Word: slowdown
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...went against the advice of some top Administration advisers, including Treasury Secretary W. Michael Blumenthal, Inflation Adviser Alfred Kahn and Chief Presidential Economist Charles Schultze. Sensing that a surge of inflation is in the making, they take the position that money policy should be tightened to produce a mild slowdown. The alternative, they fear, is too fast economic growth that would lead to even worse inflation?and then a sharp recession later on. Private economists as ideologically diverse as Conservative Alan Greenspan and Liberal Arthur Okun, both members of TIME'S Board of Economists, support the case for tighter money...
...Seeing slowdown instead of surge, Bill Miller declines to tighten money...
...growth, higher inflation and wider trade deficits. Similar penalties will be inflicted on Western Europe and Japan. The U.S., because it is the biggest customer for OPEC crude, will suffer the brunt of the latest increase. The effects will be felt just as signs of the long awaited economic slowdown are appearing...
...spent last year on fast food, generated earnings of $163 million on sales of $4.6 billion in 1978. McDonald's opened 500 new outlets last year and expects to continue expanding at that pace for the next three to five years. But that cannot make up for the slowdown in annual earnings growth, which dropped to 19% last year from roughly 40% five years ago. Since last fall the average month-to-month sales rise at McDonald's stores, which used to be 9%, has slipped to 5%. Reflecting these developments, McDonald's stock has declined from...
Signs of economic slowdown are beginning to appear. Indicators as disparate as factory operating rates and farm income slipped a bit in January. Most important, housing starts plunged 20% from December to January, and a further decline was signaled by the fact that building permits dropped 18%. A housing slump could lead the whole economy into decline, because the demand for so many other products-building materials, furniture, rugs, cars-bounces up and down along with sales of houses. Furthermore, millions of American families have socked large sums into their houses, and if they see that the market is softening...