Word: slumping
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Dates: during 1970-1979
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...moves. Only one of the ten board members flatly opposed the new policy. The rest generally thought the Fed's actions would help bring down inflation at last, though slowly, at the price of a recession that most still believe will be less severe than the 1973-75 slump, but deeper than was thought a few months ago. Several cautioned, however, that continued turbulence in financial markets and the economy make the outcome unusually difficult to predict. Their individual views, running from the most to least enthusiastic...
...Diego, Carter drew a standing ovation from the AFL-CIO Building and Construction Trades unions with a view that seemed totally at odds with the Government's new credit-tightening policies. Despite predictions of a slump in home-building Carter declared: "In fighting inflation, we do not sacrifice construction jobs." Carter forecast that his windfall profits tax on crude oil will finance energy programs that will amount to "one of the biggest construction projects in world history-on a scale comparable to building our interstate highway system." Despite such rhetoric, his flat delivery was received mostly with polite applause...
...length and depth of this slump will be largely determined by monetary policy. In the eight weeks since Paul Volcker took over as Federal Reserve chairman, businessmen's basic cost of borrowing money has jumped from 11.75% to 13.5%, the highest in history. Most board members hold that the increases will soon stop but interest rates will remain steep over the next year. Some fear that the Fed may worsen the recession by inducing a classic credit crunch, in which little money is available for borrowing to finance new plants and create jobs...
...were deep in preparation for another magazine, FORTUNE. They decided to proceed with the new venture, an expensive monthly devoted to business, even after the Crash. In a 1929 communiqué, they declared: "We will go ahead and publish, but we shall be realistic. We shall recognize that this slump may last as long as one year...
...would seem at times, a cough from a fan in the front row of the Astrodome can change its course, making it the hardest pitch to hit. Says Cincinnati Reds Second Baseman Joe Morgan: "The knuckleball messes up your timing so bad it can put you in a slump for three or four games." Joe Niekro, who enjoys watching himself on video tape, adds: "It's flat amazing to watch what the ball does. It's a thrill...