Word: 1990s
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Dates: during 1990-1999
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Those decades came to ugly conclusions, alas, but this one is likely to be different. Why? Unlike most earlier expansions, which crashed to earth when the Federal Reserve raised interest rates sharply to cool down an overinflating economy, the 1990s-style growth shows few signs of strain. To the contrary, a rare combination of price stability and moderate gains in the gross domestic product has made this upturn remarkably steady. Many economists say this tranquillity is owing to the Federal Reserve's strategy of tightening credit in the middle of the decade before prices could turn up. "Inflation...
...under 5%--a 24-year low--yet inflation is holding steady at around 3%, a combination that economists thought impossible. Productivity is growing smartly, and consumer confidence is near an eight-year high, which may help explain why personal debt is climbing. And the twin banes of the 1990s--job insecurity and income inequality--show small signs of improvement...
...most successful businesses are the ones that can read the new economy and exploit its moods. There are fortunes to be made, for instance, by recognizing the potential of fish as furniture. Fish have become a perfect pet for the 1990s, where no one's around much but everyone wants his house to be all the homier anyway. So aquarium sales are through the roof. That is good news at Petland, a Chillicothe-based company whose success is nurtured as much by the weaknesses of America's two-income economy as by its strengths. Thirty years ago, Ed Kunzelman...
...RADEK, 54 A founding member of Justice's public-integrity section in the aftermath of Watergate, Radek supervises Ingersoll's team. An even-tempered, down-to-earth Chicago native, he is known for his street savvy, lawyerly acumen and good judgment. After suffering a heart attack in the early 1990s, he has slimmed down and forsaken the cheap cigars whose stench once pervaded the office. He is passionate about golf (but has little time to play), and his Elvis impersonations for the public-integrity support staff at Christmas are legendary...
...million in foreign-tinged contributions by June 30. It turns out they may not be the only ones to need a refund policy. The Republican Party, quick to condemn Democrats for their foreign connections, now appears to have taken campaign cash from thinly veiled Asian interests in the early 1990s...