Word: timings
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Dates: during 1960-1969
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...range far beyond his evaluation of the Federal Reserve. He propagates them tirelessly in books, in classrooms, in testimony before congressional committees, in private chats with policymakers, and in a triweekly column for Newsweek. Last week he left his Vermont mountaintop retreat, where he customarily spends about half his time studying and writing, for a rapid round of evangelistic appearances. He flew to Washington to meet with a Nixon commission that is studying plans for a U.S. shift to an all-volunteer Army. Later he made a speech in Manhattan, then went to Boston. Dressed in a baggy brown suit...
...calls the chance of either a recession or a continued boom "a long shot." By his handicapping, the Government stands a 50% chance of bringing the inflation rate down to about 4% without causing a politically unacceptable rise in unemployment. Still, Okun insists?as do the other members of TIME's Board of Economists?that it is high time the Federal Reserve eased its monetary brakes...
...retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman of front-ranking Federated Department Stores. "We expect that after Christmas he will become a tough buyer, more value-conscious than in a long time...
ECONOMICS is the perilous profession, whose leading practitioners put their forecasts on the record in hard numbers almost every year. Members of TIME's Board of Economists, who met this month with the editorial staff in Manhattan and supplied much of the material for the accompanying cover story, made the following first predictions...
...inflationary psychology. According to them, it now takes three to tango, four's a crowd, and that favorite song of a few years back has become Four Coins in a Fountain. Similarly, the number 14 is bad luck, and so is four on a match. A stitch in time saves ten, cats have ten lives, two birds in the hand are worth three in the bush, a bluffer is a fiveflusher, and that soft drink should really be called Eight-Up. Life, these days, begins at 41, girls are Sweet 17 and never been kissed, and inescapably, the American...