Word: baumohl
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...meets on August 24, Alan Greenspan will nudge up interest rates by a quarter point, and just a quarter point. "If you look at the general slope of the numbers, it?s apparent that inflation pressures are picking up a little," says TIME senior economics reporter Bernard Baumohl. "It?s not out of control, but it gives the Fed a good opportunity to move...
...ever-cautious Greenspan, the slow-news dog days of August are the perfect time to put rate worries to bed for the year. "First of all, he?ll want to make sure there?s enough liquidity in the money supply to deal with any Y2K disruptions," says Baumohl. "And he knows that as the political campaigns heat up, there?s going to be debate about the economy. He doesn?t want to be part of that rhetoric." Which could be rough on Steve Forbes. But Al Gore will be thankful for a domestic economy that?s nice and domesticated...
...this have been rare lately, though, and one gloomy Tuesday hardly means they?ll be coming thick and fast in the near future. "The economy is strong, the Fed won?t raise rates in August, and earnings, as a whole, have been excellent," says TIME senior economic correspondent Bernard Baumohl. "There?s no real reason to be concerned about the stock market...
...have been getting antsy about the Fed?s turning into a paper tiger, kowtowing to the stock market and letting the economy run wild and free. This week?s numbers give Greenspan a perfect reason not to listen. "There?s just no justification for a hike right now," says Baumohl, and plenty of reasons for maintaining the status quo ? mainly that a tightening in the U.S. could make things difficult for neighbors to the south. "The Asian crisis may be over," he says, "but the Latin American one isn?t. Greenspan doesn?t want it erupting and hurting...
...underappreciated, and they think they?ll have a stronger negotiating position if they?re selling their services to the league, rather than working as employees." More leverage, more benefits, more respect ?- and, of course, more money. "Profit-sharing could even be a part of this down the road," says Baumohl. "The teams are individual companies, who share in the league revenues -- why not the umps?" The umpires? current collective bargaining agreement (which doesn?t allow them to strike, prompting this maneuver) runs out in December. With the baseball business booming and the pennant chases approaching, the umpires must figure...