Word: tightening
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...wasn't. Spotty profits kept businessmen cautious about expansion. Their borrowing served partly to pay off old loans and replenish coffers depleted by the 1966 money squeeze and the spring speedup in corporate tax collections; most of all, it reflected wide expectation that the Reserve Board might tighten up on credit or that the Government would pre-empt borrowable funds. Auto sales dropped to about 8,400,000, 7% below their 1966 level. "Mystified businessmen are still waiting for the frantic days that they were told lay ahead," complains Research Director Albert Sommers of the National Industrial Conference Board...
...from outlays for "controllable" programs and 2% from personnel costs. Even with that, federal spending in this fiscal year will climb to $136 billion, as measured by the administrative budget, and the deficit will be close to $20 billion-highest since the World War II era. That threatens to tighten credit and increase interest rates, raise consumer prices and debilitate the dollar. Obviously, the budget must be cut still further...
...Complaint. Established in 1952 under the Secretary of Defense, NSA, like CIA, is an outgrowth of the nation's post-World War II effort to centralize, tighten and sharpen the role of U.S. intelligence in the cold war. Almost unknown to the public, NSA has clearly been more successful at warding off journalistic attention than its sister agency. It is symptomatic of the extreme secrecy shrouding NSA that its director, Lieut. General Marshall S. Carter, is a nonentity even to Washington insiders. Yet, like CIA's, the agency's tentacles reach deeply into the academic community...
...thirds of Finnish exports, are badly squeezed. Timber owners, mostly small farmers, are holding out for higher prices. Some mills closed down this year, others are working at insignificant margins or at a loss. "Against this background it would have been difficult if not downright impossible to tighten credit policy further," said Bank of Finland Governor Klaus Waris...
...makes decisions about new towns tough for the Government. The country has a limited amount of farmland and a severe housing shortage. But if new towns are to be built, farmlands must be lost. In addition, England's balance of trade deficit has forced Wilson to freeze wages and tighten money. But these measures make investors less willing to move or expand into new towns...