Word: steeper
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When Columbia comes out of the turn at a speed of 400 m.p.h., it will be in a fighter-like dive seven times steeper than any commercial airliner's landing approach. (Without engine power, the orbiter is far easier to maneuver at high speed than at low.) At about 1,800 ft. over the desert and only 30 seconds before impact, Young will pull the nose up sharply, cutting air speed to 280 m.p.h., and drop the landing gear. Touching down at 215 m.p.h. (a comparably sized DC-9 lands at 149 m.p.h.). Young can only pray that...
Board members are concerned that, with unemployment increasing and the economy slipping into a steeper-than-anticipated slump as the November election approaches, vote-hungry politicians will forget the fight against inflation. They fear a scramble to hold down unemployment by stimulating the economy with easy money and big new federal spending programs. The political rationale for swinging back to a policy of spend and spend is likely to seem all the more beguiling as a result of the hopeless muddle that both Carter and the Congress have made of their joint effort to produce a balanced budget for fiscal...
...bling is the rising so-called full employment level. Until a decade ago, Washington officials considered 4% unemployment to be in effect full employment. Any attempt to push the jobless rate below that would only result in higher inflation. Today many specialists believe that such a rate is much steeper. Says Stanford Economist Robert Hall: "For the foreseeable future, we may have to adjust to a full employment or sustainable unemployment rate of between 6.5% and 7%." That would mean an additional 2 million to 3 million Americans without work...
Though the Administration continues to hope that overall unemployment will rise no higher than about 7.2% by year's end, a steeper climb seems inevitable. Alan Greenspan, a Republican economic consultant, foresees the jobless rate rising to about 8% this year and climbing to 8.2% by early next spring. Democratic Economist Robert Nathan anticipates that unemployment will peak early next year at 8.5% or higher...
Businessmen initially voiced strong skepticism about the Administration's latest inflation-fighting strategy. Would the Fed's actions prove to be so heavyhanded as to cause a far steeper slide than anyone expected? If so, many economists were fearful that Washington might react in a panicky rush to begin spending all over again, sending inflation surging to new and even more frightening heights. Observed one Zurich banker last week in a rueful sentiment that was almost universally shared among business leaders and economists everywhere: "I am afraid that at the first sign of a sharp recession, there will...