Word: alanes
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...next Fed meeting is August 21. Most investors duly noted during Alan Greenspan?s congressional testimony that Greenspan feels hope for the economy to start picking up over the next few quarters; now, in the light of the Q2 number, will be the time to contemplate just what he meant by "period of sub-par growth" and "stabilize at a lower level." If consumers retrench, that period could be very sub-par indeed; if they don?t, well, it?s not going to get much better than 0.7 for quite a while. New Fed betting is on a quarter-point...
...there it is now, still sitting on my desk, untouched. Sorry, Mr. President - believe me, I know how much you could use the economic stimulus. Wall Street is counting on it to hold up consumer spending until the business cycle has a chance to come around again. So is Alan Greenspan, who?s running out of interest rates to cut. So are a lot of GOP congressmen who would actually like to get re-elected next fall...
...other words, if Alan Greenspan was ever planning to unspool some additional optimism on the state of the economy in his return to the Hill after last week's semi-sanguine appearance before the House Financial Services Committee last Wednesday, he'd have known by Tuesday's opening bell that he'd have been shouting into a pretty stiff wind...
...something new. Until recently, Asia's policymakers and business leaders were confident that it would not be long before American consumers started partying again. Like kids waiting for a joyride in the backseat of a souped-up Mustang, Asia's markets cheered each time U.S. Federal Reserve chairman Alan Greenspan cranked the engine with yet another interest rate cut. But the car never budged. And as June turned to July, the mid-year profit warnings began to roll in from Asia's biggest U.S. customers: companies like Advanced Micro Devices, Compaq and Dell Computer. Asia, it turned out, had hitched...
...Asia and Latin America have gotten into the habit of believing they are dependent on this trio for growth. They have largely accepted, albeit grudgingly, that the three have the right to control the global economic agenda, not least through the International Monetary Fund, an organization that never criticizes Alan Greenspan's money-printing excesses but rarely hesitates to publicly lecture Asian governments, even the prudent ones...