Word: less
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Dates: during 1980-1980
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...however, ran into a wall. Between April and June, the economy declined at an annual rate of 9.6%, the fastest drop since World War II. But then, with the arrival of summer and the acceleration of Carter's re-election campaign, credit controls were loosened and money became less restricted. The prime rate fell to a low of 11% in July. Yet, after November's presidential election and a new burst of inflation, the Federal Reserve Board once again tightened money, and interest rates began another steep rise, quickly passing the spring's historic interest rate records...
...moneymen also discovered that the glitter of gold and silver can be a sometime thing. Unrest in the Middle East and inflation in the U.S. sent the price of gold soaring to a high of $875 per oz. in late January, an increase of more than $300 in less than four weeks. That same month, silver went from $39.50 per oz. to $50.35 per oz. People rushed to determine the value of their ancestral sterling silverware or gold rings, and of that was soon in the melting ovens metal dealers. The inevitable sell-off followed even more quickly than...
...computer industry other high technology firms have plants, hardly felt the slump. Investors who would not touch a steel stock to buy new issues of Genentech, a Francisco-based genetic engineering or Apple Computer, the California maker of personal computers. Unemployment in Massachusetts was only 5%, or one-third less than the national level. Colorado and other Rocky Mountain prospered with the search for new domestic energy sources. Electronic and computer firms made the Southwest and West the U.S.'s most prosperous According to the 1980 census, that contains nine of the twelve fastest growing states...
Frequently mentioned as a possible member of Republican Administrations, Feldstein is an advocate of less Government regulation of the private sector of the economy . A major focus of his research has been on the American Social Security system. He contends that the Government's retirement program has transferred vital investment capital into current consumption and thus hindered the long-term development of the economy...
...latest crisis was the reluctance of its dealers, whose lots are already packed with unsold cars, to order any more. This has forced the company to cancel plans to build some 15,000 cars in December. The dealers' decision means that Chrysler will have $100 million less than expected in the bank on New Year's Day. With January and February traditionally bad months in the car business, it was also apparent the company might soon be facing a negative net worth. That kind of financial slippage could block further Government...