Word: baumohl
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...With reporting by Bernard Baumohl and Carole Buia/New York, David S. Jackson/Los Angeles, Marc Hequet/St. Paul and Douglas Waller/Washington...
...Bernard Baumohl: No. The LEI, first of all, is not the most respected gauge among economists - it's not thought to be all that accurate. But these days, analysts will jump on any indicator, so the LEI certainly had an impact...
...markets sped up their stampede, driving the Dow into official "bear" territory and testing new 9,200 lows with a 250-point morning slide as the selling continued to spread beyond tech into Old Economy blue-chips. TIME senior economics reporter Bernie Baumohl checks the numbers and assesses the current state of things economic...
...Bernard Baumohl: Well, they look around and see the U.S. and the rest of the world slowing down economically, and they expect demand for oil to slow along with the global economy. So to avoid a glut that could push down oil prices, they're cutting back to keep prices at a level where they still turn a healthy profit...
...Organization of Petroleum Exporting Countries is in Vienna again, putting their heads together over production cuts that could lop anywhere from 500,000 to 1,500,000 barrels of crude oil off their 25 million-per-day output. TIME senior economics reporter Bernie Baumohl explains what OPEC is after - and how the wrong move could put the global economy on a slippery slope...