Word: hike
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...large amount of the funds derived from this tuition hike will be funnelled back to needy scholarship students whose scholastic records merit such assistance. Griswold emphasized the fact that every possible effort will be made to see that scholarship students may continue to receive the necessary financial aid on a one-half loan, one-half grant-in-aid basis...
Union officials, reportedly dissatisfied with the new University offer, will refer the ten-cent raise to its membership on Monday night. Earlier, the Union local voted unanimously to strike unless it received a ten per cent pay hike...
...affected by what he does, few under stand how he does it. To most credit users the operations of the Fed are as incomprehensible as the Eleusinian mysteries. Basically, the Fed operates on three main fronts: ¶ One of the quickest and easiest ways of tightening credit is to hike the discount rate, the interest that the Federal Reserve charges member banks for short-term loans. This tends to raise commercial interest rates and discourage marginal borrowing. In the past 17 months the FRB has raised the discount rate six times, boosted it to the highest level (3%) since...
...anticipated (TIME, Aug. 27), the Federal Reserve Board in midweek followed the commercial banks' lead by authorizing five district banks (New York, Chicago, Philadelphia, Richmond and Cleveland) to hike discount rates for the sixth time in 17 months. The discount rate-the basic charge to member banks for short-term loans-is expected to reach a uniform 3% (up from 2¼%) at all Federal Reserve Banks this week, raising the banker's cost of borrowing to a 23-year high...
Clear Road Ahead. The hike in discount rates was intended not only to cool off the demand for credit but to ease down on inflation. The FRB moved none too soon. The Government announced last week that the cost of living jumped 0.7% for the second straight month in July, setting a new record (17% above the 1947-49 level). Moreover, the upsurge, paced by bigger-than-seasonal rises in fruit and vegetable prices, promises to take another bite out of the dollar. As a result of the cost-of-living increase, 1,250,000 union workers will automatically receive...