Word: term
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Dates: during 1970-1979
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Around the Great Lakes, the consensus is that Carter's Administration may be ended after one term. There is a touch of sadness, for many people had hoped it would...
...odds with the other Fed regional presidents and the Fed's former chairman G. William Miller. A Utah-born Mormon who attended Columbia University, Willes argues that forecasts about the impact of new economic policies are so imprecise that the Fed should resist trying to make constant short-term adjustments by changing the money supply. Instead he advocates a new hands-off approach known as the theory of "rational expectations," which contends that longterm, stable monetary policies encourage public confidence and hence lead to increased economic growth. Though Willes has had little influence on the Fed's thinking, his arguments...
Chavan's chances of forming a coalition government seem slim; his own base of support, a branch of the divided Congress Party, holds only 77 seats in the 542-member Lok Sabha (lower house). Since no party wants a mid-term general election, the best bet at week's end was that Charan Singh, 76, the powerful leader of the new breakaway Janata (secular) Party, would be the next in line to form a government if Chavan did not succeed. If all else fails, the country could be forced to accept a weak and interim nonpartisan "national government...
...Carter's program would have little direct, short-term impact on the economy. It will take time for the biggest construction contracts to be let out, for the huge rail and mining jobs to get under way. Actually building a synfuel plant could require five years or more, and environmental objections and court protests might drag out projects even longer. The size of the spending appears smaller when reckoned at an average $14 billion a year, spread out over ten years. That is a relatively small part of an economy that now produces $2.3 trillion worth of goods...
Elsa and Lili were born in the 1890s, the daughters of a well-to-do Jewish lawyer in Moscow. Before the Revolution, Mayakovsky had courted Elsa, flouting her family's objections to the scruffy, hulking poet who had served a prison term at 16 for Bolshevik subversion. But when Elsa, who was quite plain, introduced him to her handsome married sister in 1915, Mayakovsky formed a passionate attachment to Lili that only his suicide in 1930 could terminate. After his death, these redoubtable sisters were to play key roles in the production of the Mayakovsky legend. Settling in France...