Word: baumohl
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Dates: during 1990-1999
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...meeting, the markets were a little queasy. The Dow began slipping steadily at the opening bell, before coming back to a 60-point loss by the close, a middling sell-off predicated on something like general unease. "It's really just uncertainty," says TIME senior economics correspondent Bernard Baumohl. "People are thinking about inflation again, and bond yields are very high -? which makes them suddenly look like a reasonable alternative to stocks if the Fed does put the brakes on the economy...
Moved PermanentlyMoved PermanentlyFortune Investor DataTIME senior economics reporter Bernard Baumohl doubts the Fed will act Tuesday; Greenspan will probably settle for a gentle reminder that he's keeping an eye on inflationary pressures, just like always. And that should be enough. "All the worrying today about inflation is probably excessive," he says. "This spike in prices is mainly due to OPEC nations' production cuts in March, which they've been abiding by for once. May's numbers should be back to a comfortable level." Of course, other factors bear watching -- from signs of an economic recovery in Brazil, Thailand...
...rise of just 0.2 percent. And though retail sales for April rose only 0.1 percent, inflation hawks would have much preferred a drop -- considering that April was the ninth straight month that America's drunken-sailor consumers spent more than the month before. TIME senior economics reporter Bernard Baumohl says the gentle economic slowdown those hawks were hoping for hasn't materialized -- and real inflation worries are a ways down the road...
...Things should level off again in May." But -- and there's always one where economic forecasting is concerned -- if that slowdown doesn't happen, the Asian bullet that Rubin/Greenspan/Summers dodged last winter may well get them on the ricochet. "If the recovery in the crisis economies continues," says Baumohl, "the U.S. will start to see real inflationary pressure toward the end of 1999." Then we'll see what Larry Summers is made...
...price for staying out of Comcast's corner. Plus, a $5 billion check -- especially with Bill Gates's name on it -- helps dispel investor fears that AT&T's headlong rush into cable is burying the company in debt. "AT&T has made a very smart move," says Baumohl. "They get a little cash, plus they've presumably locked up the software to go with their new hardware." After all, lots of young couples start out with big mortgages...