Word: slowest
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Dates: during 1980-1989
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Sensing the inflationary pressures early last year, the Fed tightened credit and dampened growth. In June the Fed was helped in its task by falling energy costs. The Government reported last week that consumer prices last month increased at an annual rate of just 2%, the slowest pace in 16 months. While Greenspan said he sees inflation as a lingering menace, he confirmed that for the moment it has been eclipsed by a need to keep the economy afloat. As a result, interest rates on three-month Treasury bills have fallen from a high of 9.4% in late March...
With the melting snow and the blossoming flowers of April comes the slowest period of Harvard spectator sports. Most people are out playing sports instead of observing, but those true Armchair Quarterbacks will still have plenty to watch...
...they face perilous obstacles, most notably the weak dollar. While Britain, Italy and Spain are still moving forward at a relatively brisk rate, such countries as West Germany, France and Sweden are faltering. And just as climbers roped together for safety can progress only at the pace of the slowest team member, growth is now being threatened by the economic laggards...
...moment, little growth is visible anywhere in the economy. Revised figures show that total output of goods and services rose a mere .6% in the ; second quarter, the slowest pace since the end of the 1982 recession. In an effort to give a boost to the economy, the Federal Reserve cut the 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...
...Baldrige revealed, took a sharp downturn in the second quarter, as American manufacturers continued to be hurt by a high level of imports. After expanding at a 3.8% annual rate from January to March, the gross national product increased at only a 1.1% pace between April and June, the slowest climb since the recession year...