Word: tightenings
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...Palestinian problem. If the situation is left to extremists on both sides, there will never be an agreement." He believes, however, that the establishment of new Jewish settlements on the West Bank shows that the Begin government is seeking only to maintain the status quo in order to tighten its grip over the occupied territories. "The settlement activity shows that Israel is not serious. Begin won't formally annex the West Bank," says Abu Zuluf, "because he doesn't want all those Palestinians voting for the Knesset. He just wants the land and not the people." The tall...
Also, the Federal Reserve will be empowered to extend its reserve requirements to banks that are not members of the Federal Reserve System; these banks hold 30% of all deposits. The effect will be to tighten the Fed's control of lendable funds throughout the economy. Fed Chairman Volcker will also undertake, in Carter's words, "a voluntary program, effective immediately, to restrain excessive growth in loans by larger banks." That sounds like more federal jawboning to get banks to stop making loans for unproductive purposes, such as financing mergers or speculative inventory increases...
...Unions often don't feel confident getting involved in issues which have to do with business and management. They feel their competence is in struggle, resistance, protection of rights and that these programs threaten that distinctive competence. Furthermore, that attitude might become more firmly entrenched if, as the screws tighten economically, there is more of climate of anger rather than cooperation, a climate of fear, layoffs, and defending what you have. You can't develop projects like this where people are basically defensive...
Although Volcker still retains enormous respect from the business and banking communities, he is beginning to come under some criticism for failing to tighten down on credit and the money supply enough to cool off inflation. Says John F. McGillicuddy, chairman of New York City's Manufacturers Hanover Trust: "Money has not been particularly tight in large money-center banks. It has been expensive, but not all that tight." Selective credit controls, which could perhaps include a boost in the down payment required for a house or auto loan or an increase in the minimum monthly payment...
Bush's economics combine a balanced federal budget and a reduction in federal spending. To tighten American belts he proposes stricter eligibility requirements for federal programs like Food Stamps and grading federal programs on their efficiency. Programs that consistently received low marks, he says, would be revamped or eliminated...