Word: discount
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
Then Treasury Secretary W. Michael Blumenthal ticked off a list of drastic measures that the Treasury and the Federal Reserve Board will take to uphold the greenback. The key moves: 1) raising the federal discount rate by a full point to a record 9.5%, the sharpest jump in 45 years; 2) reducing by $3 billion the funds that U.S. banks have available to lend; 3) amassing $30 billion in foreign currencies, nearly all borrowed, to support dollar prices on foreign exchanges; 4) greatly increasing U.S. sales of gold...
...status as a Sinai oil customer in the years to come. The Egyptians are demanding $2 billion in compensation for the oil that Israel pumped out during eleven years of occupation. They will sell Sinai oil to the Israelis in the future, say the Egyptians, but not at a discount...
...past month the board has let the rate for Fed funds, uncommitted reserves that banks lend each other, rise from 8⅜% to 8¾%. The Fed funds rate serves as a floor for most other short-term rates. Then last week the board increased the discount rate, the interest charged by the board for loans to member banks, from 8% to 8½%, the highest level ever. A key motive for the Federal Reserve's money moves has been to halt a sharp and inflationary increase in the money supply. Also, the Fed is trying to forestall further...
...housing boom could hurt if the Federal Reserve tightens credit much further in its battle against inflation. Last week the discount rate hit 8% and bank prime-interest rates reached 9¾%-in both cases the highest levels in nearly four years. Worried that tight credit might cause a recession, President Carter last week said he thought rates were "too high," and added that he hoped the Fed would soon be able to ease the squeeze...
...like your wooden desk, they'll get you a marble one. Who cares? Nobody has to pay." The Washington Post revealed that the GSA was paying $56.50 for a General Electric cassette tape recorder that was on sale to the public for $46.90 at a Washington discount retailer. The GSA also paid $20.70 for a Texas Instruments pocket calculator that was priced at $14.90 at a discount store...