Word: compounding
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...cost of money is rising mainly because other prices are moving up smartly. Alarmed by the 1.2% jump in consumer prices in July, which translates into a compound annual rate of 15.4%, commercial banks and other lenders are protecting themselves against the possibility of continued double-digit inflation by charging more for their money-especially on some long-term loans. Rates on four-year Treasury bills are now two percentage points higher than three-month rates-an unusually wide spread that plainly signals an upsurge in inflationary expectations in the money markets...
Shocking new evidence arose last week that inflation has again become the nation's No. 1 economic worry. The consumer price index soared 1.2% in July, equal to a 15.4% compound annual rate. That was as bad as the worst month of inflationary 1974 and marked the second month in a row that the annual rate of price boosts has been in double figures. Food prices jumped a startling 1.7% in July, mainly because of hefty increases in meats, poultry and vegetables. Gasoline prices climbed even faster: 4.3%, or an average of 2.4? per gallon. The cost of fuel...
While teamster officials met in Boston (see ECONOMY & BUSINESS) the vigil continued at the three-acre Hoffa compound north of Detroit. Burly Teamsters patrolled the grounds; an antenna on the roof signaled the presence of FBI agents within the two-story white frame house. Hoffa's wife Josephine occasionally walked the family's German shepherd. For the first time since her husband's disappearance, she left the compound briefly in the company of her son James. Young Hoffa continued to meet a dwindling band of reporters. He added an intriguing new ingredient to the case when...
...former drainage basin. (Viking II's lander is targeted for an area near the planet's north polar hood, where moisture may still exist.) Instead of jet fuel, which would contaminate Mars with hydrocarbons, the landers' descent rockets are powered by purified hydrazine, a nitrogen-hydrogen compound. This, explains Richard S. Young, chief program scientist for the mission, will cause minimal pollution of the Martian environment...
...worries the nation cannot shake is that the quickening economic recovery will be accompanied by-or perhaps cause-a rekindling of inflation. Last week that fear became considerably more chilling. The Labor Department reported that the Wholesale Price Index jumped at a startling compound annual rate of 15.4% in July, paced by higher farm and processed-food prices. Although the index bounces around erratically from month to month (it declined a shade in June), there is no reason to think that August figures will be much better. The latest report covers only part of the surge in grain prices that...