Word: slowdown
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Dates: during 1980-1989
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...discount rate at which it lends to member banks a half-point, to 5 1/2%, its lowest level in nine years. That should encourage further interest-rate cuts by the banks. The Reagan Administration and many private economists still expect a second-half pickup. Right now, though, the slowdown has presented policymakers with a painful dilemma. According to the latest Government forecasts, the federal deficit will total $163.4 billion during the fiscal year that begins this October, about $20 billion above the target set by the Gramm-Rudman law. But some economists fear that new cuts of even $10 billion...
...Botha. At a Pretoria press conference he announced what amounted to retaliatory actions. One was a levy on goods transported from South African ports to black states to the north. A cash deposit of 25% will now be required for imported goods bound for Zambia. In addition, a slowdown immediately went into effect at the Beit Bridge crossing between South Africa and Zimbabwe, as officials began a "statistical" study of the "nature and extent" of all goods moving across the border. Decrying what he called the "hysterical stampede" against South Africa, Botha challenged Mugabe and Kaunda to "put their money...
...soon diminish, some economists fear, its effects could help push the U.S. into a recession. In testimony before the House Banking Committee, Federal Reserve Chairman Paul Volcker said that the trade deficit had placed the economy in "difficult and dangerous" circumstances. It has undoubtedly caused much of the recent slowdown in growth: the economy expanded at a 1.1% annual rate between April and June, down from a 3.8% rate the previous quarter. The Commerce Department reported last week that the index of leading economic indicators, a barometer of future growth, increased by a modest 1.3% in June. The unemployment picture...
...factor is that we are a small country of 10 million people, requiring large imports of raw materials and energy. As a result we are heavily influenced by the state of the world economy. That is reflected in our vigorous economic growth from 1960 to 1975, and, later, a slowdown in the rate of development...
Pihl said the long lines at registration last week were due not to course cancellations, but resulted from a computer slowdown...