Word: rises
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Dates: during 1980-1980
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...political demise would mark an unusually rapid rise and fall for such a top-level Chinese leader...
Born in St. Petersburg (now Leningrad) in 1904, Kosygin came from modest beginnings. The son of a lathe operator, he held a series of managerial jobs in the Leningrad region, until he began a spectacular rise to power in the late 1930s. Escaping the Great Purge that dispatched millions of others to Stalin's Gulag, he became mayor of Leningrad. By 1939 he had ascended to membership in the ruling Central Committee...
...early supporter of Khrushchev's, Kosygin continued his rise in the Soviet hierarchy as a Deputy Premier after Khrushchev was made party chief in 1953. Following the Kremlin conspiracy to oust Khrushchev in 1964, Kosygin and Brezhnev divided up the two posts that their predecessor had held simultaneously. Brezhnev took over the much more powerful job of Party Secretary, while Kosygin became Premier, which put him in control of the day-to-day management of the Soviet government. Former Secretary of State Henry Kissinger viewed Kosygin as a pragmatist, with "a glacial exterior" who was "orthodox if not rigid...
...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...
...countries will be serious. West Germany's oil bill will climb $3 billion from this year's $30 billion, and Japan figures that it will be paying out another $5 billion on top of 1980's $60 billion. In the U.S. the oil tab will also rise by $5 billion, to perhaps as high as $100 billion. Higher crude prices will quicken the pace of inflation in all Western countries. Washington experts predicted that in the U.S. the OPEC decision would boost the cost of gasoline at the pump by 4.70 per gal. and the price...