Volcker reassures senators on interest rate policy
Federal Reserve Chairman Paul Volcker told senators that the Fed has tightened policy modestly but has no dramatic plans. He warned that if inflation again accelerates, higher rates could follow, yet a restrained approach now may prevent bigger rate rises later. He declined to discuss recent FOMC decisions and said he may not serve the full four-year term, with some lawmakers opposing his nomination.
MENTIONED IN THIS ARTICLE
Washington
UPI
Federal Reserve
Paul Volcker
Fed
Volcker
Senate Banking Committee
Valcker
Carter
Federal Open Market Committee
Congress
Jake Gann
Utah
Banking Committee
Reagan
James Sasser
D-Tenn
Federal workers warned on student loan offset plan
The U S government will offset up to 15 percent of pay if 41 000 federal employees do not begin repaying defaulted student loans. Warnings set to go out within 60 days after notices reach departments following a meeting of the Education Department task force. The Debt Collection Act of 1982 enables this wage offset and differs from wage garnishment which requires a court order.
MENTIONED IN THIS ARTICLE
Washington
UPI
Uncle Sam
Frank Krebs
Education Department
Krebs
Stanford tests determine transplant candidacy for Faragi patient
In Stanford California doctors say a two day to one week evaluation will decide if 34 year old John Faragi from Saugus Massachusetts is a candidate for a heart transplant after a prior Blue Cross Blue Shield denial. If approved, he and three others with the same blood type await a donor. Faragi has congestive cardiomyopathy and was kept alive by an experimental drug.
MENTIONED IN THIS ARTICLE
Stanford, Calif
Upi
Stanford Medical Center
Massachusetts
John Faragi
Boston
Faragi
Massachusetts Blue Cross
Blue Shield
Stanford
Senate debates MX missile funding amid opposition
The Senate opened debate on a $200 billion military bill with a proposed amendment to strike all funds for deploying the MX nuclear missile. Moynihan offered the action as critics argued the 10 warhead weapon is vulnerable, while supporters pressed for ongoing research into alternatives and mobile deployment.
MENTIONED IN THIS ARTICLE
Washington
Senate
Howard Baker
John Glenn
Ohio
Weinberger says term grease monkeys not meant derogatory
Defense Secretary Caspar Weinberger says his remarks about women serving as “grease monkeys” were not meant to be insulting. He notes women will always be valuable in the armed forces and clarifies the comment referred to noncombat heavy maintenance positions now open to women.
MENTIONED IN THIS ARTICLE
Washington
UPI
Defense
Caspar Weinberger
Weinberger
Reagan
Army
Pentagon
Also Mentioned on This Page
Jollar
Beaconsfield
Etonic
Tretorn
Pony
Sion
Damon
John Henn
Enzo & Others
Northen Lights
San
Serphota
Tammany
Munich
West Germany
New York State
Saugus
Mass
New England Telephone Car
Frances Ales
Medicaid
John Larkin Thompson
Blue Cross
White House
North
Syracuse
Taft and
Buckley Rd
the Seleon
airParisal
Emerss Jk
Chuck
Warner
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!