Word: tightenings
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...back their output, or else. They apparently hoped their threat alone would make competitors fearful of a superglut and persuade them to slash production. But the message backfired. While it succeeded in panicking oil traders, the tough talk failed to frighten Britain or Norway enough to make them tighten their spigots. British officials said that they would not accede to Yamani's wishes...
...Tighten That Belt...
Weakland's committee paid particular attention to positive responses from $ other bishops at last June's meeting of the 280-member National Conference of Catholic Bishops. One bishop, typifying the group's general support for the pastoral letter, told its authors, "Right on! Tighten it up. Don't back off." The letter will be revised once more before being submitted to the National Conference for final approval in November...
Some possible provisions of such an omnibus trade bill might be relatively innocuous or even mildly helpful. Examples: more Government help for exporters, retraining of workers who lose jobs to imports. Other probable provisions look risky but not necessarily bad. For example, there is a strong move to tighten sections 201 and 301 of the 1974 Trade Act, which permit the President to put countervailing duties on subsidized imports and retaliate against the products of countries that restrict American exports. Such actions always pose a danger of hampering the flow of trade, but on occasion they can lead...
...board noted further that the large volume of dollars that the Federal Reserve continues to pump into the economy makes a slump unlikely during the next twelve months. But should the Fed suddenly tighten the money supply, the action could raise the chances of a downturn sometime next year. Board members expect the GNP to expand somewhat more rapidly in the second half of this year than it did in the first, growing 2.8% from July to December. That remains well below the Reagan Administration's optimistic forecast of 5% growth over the same period. Said Charles Schultze, a senior...