Word: discount
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Dates: during 1970-1979
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Nordell said the merchandise will include both last year's models priced at a discount, and this year's equipment at full price...
...increased competition brought on by deregulation has cut average air travel costs. Traffic is up by 13.5% for the first nine months of this year, on top of a 17% increase in 1978, and about half of all air travelers now pay discount fares. The flood of flights has overstrained airports, creating booking, check-in and departure delays. Planes are packed, and even first-class seats can be difficult to get because more and more passengers are paying the premium rates to avoid the crowding and hassle of cabin class. But despite this booming business and a 32% increase...
...beneficiary of all this competition has been the traveling public. Sun seekers can now fly more nonstops to Florida than ever before, and for a multitude of discount fares. As a result, traffic is booming; in the year ending last July, the number of passengers passing through Miami airport...
Paul A. Volcker, the cigar-chomping chairman of the Federal Reserve Board, sent America off on its latest economic wilderness adventure by announcing two weeks ago an anti-inflation program that did not just raise the discount rate--the Fed's interest rate on money it lends to member banks--but changed the very nature of how the Fed controls the money supply. Instead of trying to curtail the boom in credit by manipulating interest rates, Volcker announced, the Fed would henceforth apply direct controls to the money supply, raising member banks' reserve requirements and using other methods to keep...
...Louis, officers of the Federal Reserve Bank there were pleased because they had long advocated such a move. See story on page 6. In the nation's money markets, large certificates of deposit and other short-term instruments quickly matched the one-point rise in the discount rate. See story on page 2. Foreign-exchange traders, happy about the Fed's actions, sent the U.S. dollar up by 2%; gold fell more than $17 an ounce. See story on page 3. But the U.S. stock, bond and commodities markets were less sanguine. See stories on pages...