Word: previous
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...axing of Blumenthal, the Fed's monetary policy was in disarray. So strong has been the resulting expansionary momentum that even as investors and financial markets were reeling last week from Volcker's abrupt shift in Fed tactics, the central bank itself glumly announced that money growth for the previous week had been a too robust $2 billion. That was anywhere from two to four times what had been expected...
Demand remains impressively strong, as the latest retail sales results show. In September purchases by consumers rose by a very vigorous 2.2%, which was nearly twice the increase that had occurred in any previous month this year. Moreover, revised Government figures show that spending in August climbed by an astonishing 3.1%, which works out to an annual rate...
...Previous chairmen had decidedly political leanings: Arthur Burns, appointed by Nixon, was known as a Republican, and Miller had been active in Democratic affairs as a businessman. Volcker, who is a Democrat, is resolutely nonpartisan. Observes Brimmer: "He's simply not going to tilt for or against the White House because of party affiliation. Paul's much more likely to maintain some distance...
...performance at the polls might have seemed respectable enough: his ruling Liberal Democratic Party (L.D.P.) increased its popular vote from 42% to 44.6%. The party maintained its plurality in the 511-member lower house of the Diet by winning 248 seats, only one less than it had in the previous parliament; the L.D.P. stays in power because it has the assured support of ten independents, which will give it a voting majority of two. Moreover, Japan's second biggest party and the L.D.P. 's main opposition, the Socialists, captured only 107 seats, a loss...
...Washington-Tokyo relations caused by the U.S.'s chronic and massive trade deficit with Japan was beginning to dissipate. Said Mike Mansfield, U.S. Ambassador to Japan: "It's been a good summer. I haven't heard the word protectionism for months." By contrast, he said, the previous two years had been "among the most difficult in the U.S.-Japanese relationship since the end of World War II." In Washington, even Congress's Joint Economic Committee stopped growling. Texas Senator Lloyd Bentsen, committee chairman, conceded that Japan, under U.S. pressure, had "begun to peel away" the cocoon...