Word: baumohl
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Dates: during 1990-1999
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...economy has slammed on the brakes, growing only 1.4 percent in the April-June quarter. But if it doesn't worry Alan Greenspan, it shouldn't worry you. "This is exactly what economists were hoping for: The beginnings of a soft landing," says TIME business reporter Bernard Baumohl. "The Asian crisis is starting to hit us, and a slowdown was inevitable. This one, especially balanced with the abnormally high first quarter...
...strike, should spare the Fed any worries about inflation or having to raise interest rates. But with the July effects of the just-settled strike counting toward next quarter, experts are predicting more of the same for July-September. Is it time to start crying recession? Baumohl doubts it. "So many other indicators, such as consumer spending and new equipment purchasing, are still strong. There isn't much out there that's alarming." If a recession does come, it will come unannounced...
...There's really no sign that the economy will overheat soon," says TIME business reporter Bernard Baumohl. "But Greenspan has to maintain his role as captain of the economy. If he admits that the economy is on autopilot -- which it is right now -- the Fed loses its relevance." Usually such vocal vigilance from the Fed chairman portends a hike in interest rates. But Baumohl says Greenspan still hopes that a "soft landing" -- in which the U.S. economy, dulled by Asia's recession, "sort of taps its brakes and cools off on its own" -- will allow him to do nothing...
...Chicago, Dallas and Miami if their competitors demand it. And with Virgin's Richard Branson charging that the EU wasn't harsh enough, the pressure on British-American isn't likely to let up. "There's no certainty that this deal will finally be consummated," says TIME reporter Bernard Baumohl. "The extent of the sacrifice demanded by the EU regulators makes the venture a lot less lucrative for the two airlines than it once seemed...
...Russia, despite the promises of its president, may not be ready to change. "The Duma makes reform very difficult -- in part because the hard-liners wouldn't mind if the Yeltsin government fell," says Baumohl. Perhaps Yeltsin will disband the Duma after all -- if only to get his hands on that loan...