Word: discounted
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Dates: during 1970-1979
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...money ticked upward, reflecting both high demand for funds by business and the Federal Reserve Board's determination to try to hold down prices by curbing the growth of the money supply, which has been expanding rapidly since March. The Fed once again raised (to 7¼%) the discount rate, which is the interest it charges on loans to Federal Reserve system banks. Meanwhile, several large banks, led by New York's Citibank, raised their prime lending rate for top corporations by a quarter percentage point, to 9%, the second such increase in the past two weeks...
...policymakers would be "walking through a very narrow valley in the next few months" and would need "tremendous skill" to avoid either another surge in prices or a quick slump back into recession, or perhaps both. Although Miller opposed his colleagues at the Fed on the need for another discount rate increase, he is persuaded that inflation is a more immediate peril than recession; he recommended that Congress postpone the 25?-an-hour increase in the minimum wage (now $2.65) that is set for next...
...arranged deposition of the dean of admissions at Davis furnished the sole testimony, in fact. All appellate courts, including the Supreme Court, must base any subsequent decisions on the trial record, although a justice may loosely draw on material from amici briefs. It would seem Powell chose to discount important information pertaining to Bakke's application. Bakke was, after all, rejected from ten other schools, two of which sent letters informing him that his age was a "serious factor" in determining his case. In addition, more than 30 applicants in each year Bakke applied would have been admitted ahead...
...more stable prices-for example, Germany with a rate of 2.7% and Switzerland with 1.7%. Austria, the Benelux countries and even Britain have also done better than France lately. Although designed to keep prices down, controls actually lift them by eliminating competition, in effect turning all industries into cartels. Discount stores are far scarcer in France than in West Germany or the U.S. Since businessmen know that the government will usually give in to demands for price rises, companies have little incentive to gain an edge by keeping costs, especially wages, under control...
...case, Firestone started phasing out the 500s about 18 months ago in favor of the new and presumably improved 721 radials. Last April, the company sold off the last batch of its 500s at discount prices in several Southeastern markets, but millions are still on the road...