Word: drastically
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Dates: during 1970-1979
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Then Treasury Secretary W. Michael Blumenthal ticked off a list of drastic measures that the Treasury and the Federal Reserve Board will take to uphold the greenback. The key moves: 1) raising the federal discount rate by a full point to a record 9.5%, the sharpest jump in 45 years; 2) reducing by $3 billion the funds that U.S. banks have available to lend; 3) amassing $30 billion in foreign currencies, nearly all borrowed, to support dollar prices on foreign exchanges; 4) greatly increasing U.S. sales of gold...
...courage to apply it." Ford Motor Co. Vice Chairman and President Philip Caldwell said the dollar-saving moves should "slow inflation and re-establish growth on a healthier basis." Richard Kjeldsen, senior international economist for Security Pacific National Bank in Los Angeles, asserted, "The President's economic package is drastic, abrupt and volatile?it's just what the doctor ordered...
...also believes that there should be a strict separation of the services which are provided at the state and local levels. Cities would collect taxes solely for essential services, like fire and police, and the state would spend its tax dollars on social services. This would result in "a drastic reduction in property taxes," she said...
...could a veteran pilot like Veldhuizen have made such a drastic mistake? Harried by an already lengthy delay on Tenerife, the study speculated, he may have rushed his takeoff to avoid violating a KLM rule against crew overtime. Erratic weather conditions may also have pressed him. The radio "whistle" could have blipped out some essential communications, and imprecise language, by both tower and KLM crew, may have confused matters even further...
Although Gaullists and Communists join forces to vote no, a narrow majority in the National Assembly approves Rocard's request to rule by decree for six months. Drastic reforms are instituted almost instantly. Rocard does not nationalize vast sectors of industry, as the 1972 Socialist-Communist "common program" calls for. Instead, all stock in private companies is converted to bonds, and shareholders are guaranteed 15% of profits; but corporate control passes to the workers. France's Paris-centered government is decentralized with the creation of new regional assemblies with broad local powers, including taxation. Welfare benefits are increased...