Word: discounted
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Dates: during 1980-1989
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Last week Greenspan proved those critics dead wrong. In an effort to keep inflation at bay, the Fed raised its discount rate from 6% to 6.5%. That bellwether interest rate, which the central bank charges on loans to financial institutions, now stands at its highest level in two years. Says Robert Hormats, vice chairman of the Goldman Sachs International investment house: "The increase, announced just a week before the Republican Convention, puts to rest any doubt about Greenspan's independence...
...Chairman and his five fellow board members boosted the discount rate because they feared that the economy might be overheated enough to speed up the pace of inflation. The Fed became particularly concerned a week and a half ago, when a new employment report was released. While it showed that the unemployment rate climbed from 5.3% to 5.4% during July, largely because of a surge in the number of teenagers entering the work force, the figures also indicated that the economy had created 283,000 jobs in the month, a sign of strong growth. One other worrisome sign appeared last...
...hour -- these days bring more than twice that sum. Servers at some Burger King outlets in Massachusetts start at $8 an hour and receive raises of 25 cents an hour for every 90 days they work. Beyond that, they receive $1 an hour toward child care and can buy discount memberships at local health clubs...
...Pilots Association: "A computer can only react to the possibilities that have been programmed into it." Some experts speculate that because the Airbus jet's wheels were down as it swooped over the air show, the computers might have been tricked into thinking the plane was landing. Airbus officials discount this possibility...
...council-sponsored keg party in December flopped and the council had to sell much of the left-over beer at a discount. While many council members pointed to the new restrictive alcohol policy, others blamed the failure in part on insufficient advertising...