Word: wayed
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Dates: during 1970-1979
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...prediction proved correct. As an unseasonable October snowfall swirled outside, a far fiercer storm began to rage inside the exchange. Only minutes after trading opened, brokers were deluged with orders to sell. By the time trading had been under way for an hour, everyone realized that the rush was on. "It's almost a total panic," said a broker whose clients were jamming his telephones in their haste to sell. "More dramatic than anything I've seen since the assassination of President Kennedy. The institutions and banks are selling, but they aren't as dramatic...
ROBERT TRIFFIN: "Controlling the money supply is the best way to fight a recession," says this international money expert. "Certainly, initially, if we are to brake inflation, there will be some difficult periods to go through. The sooner, the faster we do it, the less gradual approach we adopt, the better chance we have to succeed, to turn the corner. I am very encouraged that part of Volcker's approach is an attempt to deal also with the problems posed by the Eurocurrency market. He emphasized more than before the rate of money supply growth on this market, rather...
...time hurt every consumer who wants-or needs-to borrow for any purpose, from paying medical bills to buying a house. Says Saul Klaman, president of the National Association of Mutual Savings Banks: "Those who need credit most will have the most difficulty getting it. That's the way it always is." As prices inevitably rise, says Charles Lehing, senior vice president of New York's Chemical Bank, the people who will have the most trouble will be those on fixed incomes. Adds Lehing: "Most of these people don't have enough disposable income to become eligible...
...inspiring a "can do" spirit, the President declared: "People are discouraged about the current situation. They are doubtful about the future. . . But our country is inherently strong, capable and able. We're the strongest nation on earth economically, politically and militarily. We're going to stay that way . . . We can resolve the malaise that has existed...
...surrogate. Says a U.S. official: "There is a great concern that America and its ideological values are in retreat. If the Cubans were to lure the little island countries of the eastern Caribbean into their sphere of influence, it would send shock waves throughout Central America all the way to Cape Horn...