Word: baumohl
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...went up for a change in the first weeks of March, rising to 91.8 from 90.6 in February and topping forecasts for a drop to 89.5. Both reports will figure heavily in the Fed's calculations as it readies for its March 20 meeting. TIME senior economics reporter Bernie Baumohl reads the tea leaves...
...Bernard Baumohl: Well, it's something that could still change, but after February's Michigan numbers, which were revised up, I count this as the second straight rise in consumer confidence after several months' slide. It seems to suggest that perhaps the worst may be over in terms of consumer sentiment, which is critical to the length and breadth of this slowdown...
...long is it going to stay that way? TIME senior economics reporter Bernard Baumohl gets in the Fed's head and goes behind Tuesday's numbers...
...Bernard Baumohl: These two reports are further evidence that the economy is sinking, and sinking at a somewhat surprising rate. The Fed lowered interest rates by a full point in January, which is the most Greenspan's ever done in a month. And yet neither the economy or the stock market has really responded. Clearly, both investors and consumers are very pessimistic about the future, which can be self-fulfilling. We could have a shrinking in this first quarter, and possibly in the second quarter as well. And that, by the classic definition, is a recession...
...Labor Department reported Friday that unemployment is up, way up, to 4.2 percent in January - higher than the analyst-expected 4.1 percent and higher, in fact, than it's been in 16 months. TIME senior economics reporter Bernard Baumohl takes you through the January monthly report...