Word: summer
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Dates: during 1970-1979
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...Administration that has been sounding alarms on energy ever since taking office, the optimistic statements by Carter and Schlesinger seemed a remarkable change of direction. For months, Carter has predicted that gas would be scarce all summer, and in even shorter supply next year. Two weeks ago, when Congress refused to give him standby authority to impose gasoline rationing, he angrily accused his opponents of having "apparently put their heads in the sand." Just the day before his meeting with Brown, Carter told 200 business leaders at the White House that the energy crisis "festers like a cancer, sapping away...
...also started a radical magazine, The Messenger, which questioned why Negroes should fight in World War I when they were denied freedom at home. The Woodrow Wilson Administration, which moved to segregate the civil service, labeled Randolph the "most dangerous Negro in America." He was arrested in the same summer as Socialist Leader Eugene Debs, and spent two days in jail...
...from over. That is the conclusion of the TIME Board of Economists, which met in Manhattan last week to examine the future course of business. Board members cautioned that, although the rapid rise in prices will slow, inflation will continue at a punishing double-digit pace into summer and remain a burden for at least the next two years. Says Joseph Pechman, director of economic studies at Washington's Brookings Institution: "The economy could be in for a very, very nasty period...
...economists' forecasts, which are strikingly similar for a group with such diverse philosophical views, call for a mild recession to begin in the summer. It is even possible that a recession has already begun. More likely, notes Beryl Sprinkel, executive vice president of Chicago's Harris Bank, "the economy is slowing in a pattern that is typical of a prerecession peak...
...Interest rates are nearing their peak, and, though they will continue to rise for the next month or two, they will begin to level out or decline by summer...