Word: baumohl
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...news for the miners is that the price of gold is unlikely to rise again anytime soon. "Gold was traditionally considered a hedge against inflation," says TIME senior business writer Bernard Baumohl. "Now there?s no reason to hold on to it because there?s no threat of inflation in the foreseeable future. It?s not an attractive investment because it offers no return, and the supply has grown despite falling demand, driving the price even lower." The best hope for the miners is an unforeseen catastrophe. "Right now it would take a major shock in the global economy...
...Wednesday, the Federal Reserve released Wall Street from months of suspense. It raised short-term interest rates by one quarter point and returned its "bias" to neutral ?- and gave little sign of what it planned to do at its next meeting on August 24. TIME senior economics reporter Bernard Baumohl says that?s because Greenspan himself doesn?t know. "If the economy starts to slow down ?- and there are scattered indications that it?s beginning to ?- chances are he won?t raise again," he says. "But with consumer spending at its current blistering pace, he needs to look...
...consumers and the value of their portfolios ?- could of course set off the very overheat that Greenspan is so worried about. But the indexes are short-sighted, emotional creatures, and Wednesday the emotion was relief. "The uncertainty is over, and Greenspan clearly is done raising for a while," says Baumohl. And the markets are off and running all over again ?- at least until August 24 starts to loom...
...rally could be its own worst enemy? "My guess is that the Fed won?t do much thinking about what they?ll do down the road in terms of hikes -? they?ll wait until August, when they have two more months of data," says TIME senior economics reporter Bernard Baumohl. "And that data will depend a lot on what the markets do between Wednesday and then...
...sell on the news, they may have to make room under that desk for Uncle Alan -? a harmless rate hike will have begotten a serious monetary neurosis. "The Fed won?t announce a bias like last time, because this is the hike it was warning us about," says Baumohl. "It?s shifting back into neutral." Of course, to a market that?s just aching to be unleashed, "neutral" is like raw meat to a roomful of Dobermans. Let?s just hope they don?t choke...