Word: window
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Dates: during 1960-1969
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...bank wants to raise cash, it can sell some Treasury bonds, issue certificates of deposit, or repatriate Eurodollars from its branches overseas. If it is a member of the Federal Reserve System, it can also appeal to "the lender of last resort"-the system's discount window. The price is high. Besides paying interest, currently 51%, the bank must submit to scrutiny that is even closer than usual. As a result, only 1% of credit extended to the banks has been passing through the Fed's discount window in recent years...
More liberal use of the federal discount window, even at the rate of more than $2 billion a week desired by the Mitchell study, will mean a shift in the way bank credit is extended. It will not increase the overall money supply, just de-emphasize the Fed's buying and selling of Government securities to regulate the flow of money, which has not always been fully successful when the chips were down. It took several months during the 1966 credit crunch to improve bank lending by such means alone. "If the proposed revisions had been in effect," says...
Last year 2,200,000 U.S. families tried air conditioning for the first time. This year the industry expects to sell 3,500,000 window units or central home air conditioners worth $1.6 billion. Sales have doubled in five years, and on window units alone...
...conditioning began in hot Southern states, which still lead in sales. Texas ranks first both in the total (1,880,000) and percentage (58.3%) of air-conditioned homes. The trend has gradually worked north; New York ranks second in the number of airconditioned homes. Furthermore, when . it comes to window units, families seldom stop at one. Most buy an air conditioner for the master bedroom, later decide that the children ought to have one, too, and so should the kitchen. "They're like peanuts," says a Westinghouse executive. "If you have one, you've got to have another...
...ease and adaptability of air conditioning make it more desirable to have. Fedders has introduced a $100-extra electronic filter for window units that blocks out 95% of all dirt, smoke and pollutants. Air conditioners in automobiles have become almost a routine item. Currently 44% of all new cars are equipped with units v. 14% in 1963. Another 650,000 units are being sold to car owners each year in what Detroit calls the "after market...