Word: week
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Dates: during 1970-1979
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...early summer. With gasoline readily available again, buyers have returned to shopping centers and auto showrooms. Reflecting this consumer boomlet, the Commerce Department guesstimates that the economy may have actually grown at an annual rate of 1% in the third quarter. But in the fourth quarter, which begins this week, the brief spending splurge is expected to fade, and the pace of business will slow sharply...
...Carter Administration last week attempted to revive its moribund voluntary guidelines by creating a 15-member committee, including representatives of labor and management, that will recommend new wage standards to replace the current 7% guide. Since unions had strongly opposed the guidelines, forming the committee was a step toward reconciliation between the President and labor. Unions still have scant incentive for moderate settlements at a time when inflation is roaring at 13%. The Labor Department announced that consumer prices rose by 1.1% in August, the seventh straight month of an increase of 1% or more. Because prices rise faster than...
Like the children of Hamelin chasing the Pied Piper, investors last week continued rushing to put their paper money into hard goods. Gold scaled yet another peak on the London exchange: $397 per oz., almost double a year ago. Prices soared for platinum and silver, and even copper that was 81? per Ib. two months ago sold...
...this week's annual meeting in Belgrade of the finance ministers and central bankers of the 138-country International Monetary Fund, another step may be taken to dethrone the dollar as the world's chief reserve currency, and replace it with a collection of monies that will give more economic and geopolitical power to hard-currency nations, including West Germany and Japan. In an attempt to remove from the money markets some of the excess dollars that provide cannon fodder for speculators, the IMF would replace as much as $40 billion with its own bonds. Now there...
...financially straitened Chrysler Corp. got a felicitously timed lift last week in its drive to persuade Washington to approve federal guarantees for loans from private banks. The Economic Development Administration decided to guarantee loans totaling $111.1 million for the Jones & Laughlin Steel Corp. to install pollution control equipment. Though that guarantee was granted under a special Administration program to help steelmakers meet the heavy cost of complying with environmental rules, Chrysler officials are sure to cite it as a precedent in their push for much bigger guarantees...