Word: democratic
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Dates: during 1980-1980
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...contrast, Liberal Democrat...
...prices by 6% to 10%, and oil producers warned of possible additional increases in 1981 (see following story). Meanwhile in the U.S., more and more domestically drilled crude is being marketed at sky-high world prices as a result of the continuing phaseout of domestic crude oil price controls. Democrat Otto Eckstein, president of Data Resources, an economic forecasting firm, estimated that rising petroleum prices will add 2.2 percentage points to the nation's consumer price index...
...TIME board last week split sharply over whether that new approach is working, and there was also disagreement about whether Volcker will continue to pursue it in the new Administration taking office next month. Democrat Eckstein wondered about how many more times the Fed will feel compelled to "beat the economy about the head" before people believe that the bank is serious about controlling the money supply. Eckstein jokingly asked whether the Federal Reserve's vacillating policy of first tight money and then loose money was creating "the six-month business cycle," alternating between boom and bust...
...Democrat Heller cautioned, however, that Volcker is not likely to repeat his move of last spring and begin excessively increasing the money supply a second time if the economy starts to falter. Said Heller: "Volcker has had a burning experience, and he is now being driven almost by a sense of inner guilt. He eased up too much too soon, and he knows it. Now Volcker may be overcompensating...
...campaign, insisted that the new Administration recognizes that its budget will be controversial and involve some unpopular cutbacks in spending. Said he: "This is not going to be a painless solution. Reagan is trying to avoid the stop-and-go policies that have characterized preceding Administrations, both Republican and Democrat, and hence fight unemployment and inflation simultaneously...