Word: steep
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Much of the dollar's recent strength is attributable to something the President has little direct control over: steep interest rates. At present levels of 17.5% for three-month deposits, American banks are paying interest rates far above the U.S.'s 13% inflation rate. The interest rate in West Germany is only around 9%, while in Japan it is about 8%. The high level of real return attracts many international investors to deposit their money in the U.S., thus strengthening the value of the dollar...
Searching for a new way to cut steep inflation and restore sound growth...
Reagan confronts low growth, high inflation and steep interest rates...
...election campaign, credit controls were loosened and money became less restricted. The prime rate fell to a low of 11% in July. Yet, after November's presidential election and a new burst of inflation, the Federal Reserve Board once again tightened money, and interest rates began another steep rise, quickly passing the spring's historic interest rate records...
...racist cliche that the Chinese are supposed to be inscrutable and paradoxical, but the Peking Opera performance here does represent a paradox of sorts: it delivers full value for the steep ticket price, yet it is the shortest evening imaginable...