Volcker urges continued tight policy to combat inflation
Fed Chairman Paul Volcker told builders in Las Vegas that monetary restraint must persist despite recession and high rates. He warned easing could waste hard earned gains and endorsed deficit reduction, possible tax increases, and innovative credit tools like adjustable-rate mortgages to support home financing.
MENTIONED IN THIS ARTICLE
Washington
UPI
Federal Reserve Board
Paul Volcker
National Association of Home Builders
Las Vegas
Volcker
Fed
Sury
FHA Raises Loan Ceiling to Sixteen Point Five Percent
HUD says FHA will insure single family loans with rates up to 16.5 percent, up from 15.5 percent, starting Monday, with VA loans following. The move signals rising private loan costs as the housing industry endures a difficult year blamed on high rates that hinder home purchases for young Americans.
MENTIONED IN THIS ARTICLE
Washington
Department of Housing and Urban Development
HUD
Federal Housing Administration
Veterans Administration
1982 Housing Market Forecast Sees Weak Starts
Experts predict a weak 1982 housing market with about 1.34 million starts, up from 1.1 million last year. The fall in mortgage rates contrasts with rising unemployment driving the pessimistic outlook.
Durable goods orders inch up in December amid weak outlook
UPI reports December durable goods orders rose 1.6 percent led by non electrical machinery and transportation equipment, offsetting October’s collapse. With November up 1.8 percent, total 1981 gains contrast with weak forward prospects as unfilled orders decline and production remains sluggish.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
David Ernst
Ernst
Evans Economics
Theodore Torda
AT&T divestiture prompts warned 10 percent local rate hikes
AT&T executives told Senate committees that local rates may rise up to 10 percent yearly in coming years due to competitive pressures, not the divestiture decree. They defended the plan to keep long distance, Bell Labs, and Western Electric while shedding 22 local units.
MENTIONED IN THIS ARTICLE
Washington
UPI
American Telephone and Telegraph Co
Sherman Unger
Commerce Department
Senate Commerce Committee
Senate Judiciary Committee
William Baxter
Justice Department
Antitrust Division
At&t
Baxter
Charles Brown
Commerce Panel
Raytheon posts record 1981 sales earnings per share
Raytheon Co reports 1981 net income of 324 million or 3.86 a share up from 282.3 million or 3.40 in 1980. Sales rise to 5.636 billion from 5.002 billion with fourth quarter income of 79.3 million and 94 cents a share. Raytheon also parent to Iowa Manufacturing Iowa Steel Cedar Rapids Amana Refrigeration.
MENTIONED IN THIS ARTICLE
Raytheon Co
Raytheon
Iowa Manufacturing
Iowa Steel
Cedar Rapids
Amana Refrigeration
Late stock losses trimmed by late rally ahead of Reagan speech
US markets opened lower as a money supply surge spiked rates, then recovered with a late rally. The Dow fell to 842.75, NYSE index slid to 66.64, and NASDAQ dropped as investors awaited President Reagan's state of the union plan. Trading slowed amid volatility and sector moves.
MENTIONED IN THIS ARTICLE
New York
UPI
Reagan
Standard & Poor
FRB
NYSE
U.S
National Association of Securities Dealers
Brunswick Corp
Auto sales slump as price cut talk fuels hesitancy
General Motors and rival automakers report sharp second ten day declines in January sales amid UAW price cut negotiations. VW posts the steepest drop while GM resumes talks after a weekend halt. Poletown plant construction begins as the old Cadillac and Fisher facilities face replacement.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors
United Auto Workers
Also Mentioned on This Page
Trea
FHA
Bell Research Labs
Western Electric
Congress
Don Riegle
D-Mich
Raytheon Record
Whittaker Corp
Whittaker
Brunswick
Shaklee
Wall Street Journal
Hughes Tool
Amex
Dome Petroleum
Supron Energy
Ranger Oil
UAW
Volkswagen of America, Inc
Ford Motor Co
Chrysler Corp
American Motors Corp
AMC
General Motors Corp
Poletown
Cadillac Motor Car
Fisher Body
Midstate Airlines
Kansas City
Minneapolis-St. Paul
Midstate
Dixon Street
Stevens Point
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