Word: stringently
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Answer: Hold fast to that stringent policy. Let the recession come, if need be. More than that, aim for the downturn to be followed not by a vigorous rebound in production and jobs but by a year or two of only moderate growth...
...will barely patch a scratch. But the shift to tighter money, she believes, will be the real cure for the dollar's debilities. The trouble is, the early side effects will be bad: higher interest rates, which lead to higher prices for a while. In time, however, the stringent money policy will force inflation down and push the dollar up. What scares Whitman is that the turn to a more stable world monetary system may not come soon enough. People may panic and retreat behind walls of protectionism. Says Whitman: "There is an increasing sense that the postwar dream...
Harvard scientists, fearful of competition from universities in cities with less stringent DNA regulations, are pushing hard for enforcement of the latest guidelines. If Vellucci's past behavior is any clue, he will strenuously resist any attempts to change the ordinance. Krimsky says, "This whole issue of the ordinance could be a repeat of two years ago." That confrontation between Harvard and Cambridge left quite a few scars, and neither the University nor the city wants a repeat performance. But they may have no choice...
...Richard Nixon grossly worsened a bad situation by also using deficit spending and then clamping on controls; prices soared after they were lifted rising 6.2% in 1973 and 11% in 1974. Gerald Ford, inheriting an economic mess as well as a moral mess, pursued stringent fiscal policies that brought inflation down to 5.8% in 1976, but only after the nation had suffered through a severe recession...
...spiral can be slowed, the Government will get more time to chop away at the budget deficit. But even if a socko TV speech gets the program off to a good start, the President will face the tough task of maintaining public, labor and business confidence -and imposing unpleasantly stringent spending discipline on his own Administration-for what at best will be a long, long haul...