Word: tightening
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Presently before the Bundestag is an Erhard-backed bill that will tighten credit controls by allowing the federal government and West Germany's central bank to decree one-year restrictions on the amount of public and private borrowing. Beyond that, both the federal and state governments will be freed from constitutional obligations to balance their budgets; instead, they will be able to run surpluses or deficits, depending on whether the economy needs to be speeded up or slowed down. Both federal and state governments will be required to present long-term (probably five years), coordinated investment plans; at present...
...annual rate of almost 7%, faster than the real growth in the economy. The Federal Reserve Board could not reduce the rate of monetary expansion without disrupting the nation's economy, if only because the demand for capital is so intense. Thus the board has little room to tighten money further without kicking up the discount rate once again. That is a step which a majority of the board opposes, partly because it would stir up a political tempest, and partly because quite a few financial men recognize that the upward pressures on the economy are easing...
...Council of Economic Advisors is in danger of being misused. It is illequipped for serving as an administrative agency that processes reports on the large number of industries that are likely to violate the guideposts as the economy continues to tighten...
With Princeton down and Harvard up, today's games should be quite a battle. If Harvard goalie Ron Wilson can come up with a good day, and Crimson midfielders are able to tighten up their leaky defense, look for Harvard to tame the Tiger...
...Crimson will have to tighten its doubles play considerably in the next couple of weeks before facing Princeton and other teams which may match or better Harvard in singles play...