Word: lasts
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Dates: during 1980-1980
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...response, Monetarist Sprinkel argued that the Federal Reserve has not really been sticking to its tight money policy at all. In Sprinkel's view, Volcker "aborted the recession last spring" by injecting money rapidly back into the economy to ease the downturn during an election year. Said Sprinkel: "I have been watching the Fed since Harry Truman's days, and though Presidents have no direct control over the Fed, the White House does have all sorts of subtle influences to help it get the sort of monetary policy it wants...
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...
...expensive. Instead, they turned to banks for short-term loans that would not lock them into high rates for ten years or more. Industries that depend heavily on credit, particularly home building and auto sales, have been staggering. Lone Star Industries, the country's largest cement producer, last week took out full-page newspaper ads featuring a large skull and crossbones and the warning POISON...
Even one of the Federal Reserve Board's own governors spoke out last week in public against its policies...
Chrysler and Ford last fall rolled out a new generation of gas-thrifty models designed to win back business from popular Japanese imports...