Word: upwards
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...Common Market lavishes on its farmers subsidies that are generous even by U.S. standards, encouraging them to grow food that could be imported more cheaply from the U.S. Beyond that, it maintains a system of variable import taxes that can be adjusted upward to keep the price of American foodstuffs as high as they were before dollar devaluation...
...rate to fewer borrowers. Or, as Economist Milton Friedman quips, the prime rate is the rate at which banks will refuse to lend money to their best customers. Charges for other kinds of short-term credit-Treasury bills, federal funds, 90-and 180-day commercial paper-will keep edging upward. Rates are rising because loan demand is increasing...
...keep the prices of their currencies from rising, because that would hurt exporters, who supply many jobs. But the Bundesbank cannot keep buying dollars at the present pace very long. If the speculative storm does not subside soon, the Germans may have to float or revalue their mark upward for the third time in 40 months...
...member of TIME's Board of Economists, foresees a whole round of currency changes occurring at any time from the next few days to eight months from now. He predicts an increase of roughly 10% in the value of the Japanese yen, a 5% to 10% upward revaluation of the mark, other revaluations for the Dutch guilder, Austrian schilling and Belgian franc. Because the dollar then would be worth less against these currencies, the result would be a further devaluation of the dollar averaging about...
Monetary experts from the big Western nations had been searching for ways to halt the crisis. They were talking in terms of seeing the West German mark and the Japanese yen revalued upward...