Word: tightening
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...searing drought. At long last, the cost-of-living spiral is leveling off (down 1.3% last month), and so is the peso. The exchange rate is holding steady in a range of 132 to 138 to the dollar, after sinking as low as 157 last year. To tighten the economy further, Illia last week restricted the amount of foreign currency Argentines can hold or take out of the country...
...politics would change if the man at the center of the Russian power "onion" succumbed, is the most difficult to answer. Would control over the civilian population loosen to show the good intentions of the new leaders while they engaged in the ruthless struggle for supremacy, or would discipline tighten to avoid disorders...
...Exchange tried to meet such objections by presenting its own proposals to tighten floor trading, but the SEC found the proposals unsatisfactory, last month curtly broke off negotiations on the issue...
Patman charged that the Federal Reserve has already contributed to high unemployment by restricting the flow of money, fears that the Fed will further tighten up this year. If the tax cut proves to be too great a stimulus to the economy, the Fed may have to do just that. The betting in many business circles is that after the tax cut passes, the discount rate will be raised from 3.5% to 4%-which would make commercial loan money more expensive to come by. But Johnson is an easy-money man, and he has a chance to moderate any tight...
Bills & Bans. The industry is used to attacks, but the latest blast was the strongest ever because it carried the force of Government and called for "appropriate remedial action." Congress is considering six bills that would tighten Government controls over cigarette sales, label cigarettes as injurious, or force manufacturers to list the tar and nicotine contents on their packages. The bills have little chance of passing soon, but the Federal Trade Commission figures that it already has the powers to get tough. Last week it proposed to ban advertising that makes smoking out to be manly or glamorous...