Word: bernard
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...take the rest of the summer off," says TIME senior economics reporter Bernard Baumohl, after Thursday?s CPI number confirmed the good news: Inflation is definitely back in the grave. The overall Consumer Price Index was unchanged last month, and the core rate ? which excluded volatile energy prices ?- increased a mere 0.1 percent. Both numbers came in under expectations, yet another assurance that the Fed has absolutely no need to throttle back on the money supply when it meets in August. "In fact, it doesn?t even need to meet," jokes Baumohl. "They don?t even have to talk...
...percent, reported the Commerce Department on Wednesday. The stock markets, thus relieved anew about Alan Greenspan?s plans for August, did a little jig at the opening bell ? but then took a dive into negative territory by noon. What gives? Despite the good news, says TIME senior economics reporter Bernard Baumohl, all is not well on the Street these days...
...aware that even in the United States there is rising consumer concern about how such foods may affect the environment. ?The government is doing this to provide an additional piece of safety evidence and to show that the Europeans are making a false argument,? says TIME senior economic reporter Bernard Baumohl. The fact is, reports Baumohl, that no country in the world is as advanced as the U.S. in the field of biotechnology. The Europeans are at least five years behind in developing a state-of-the-art expertise. ?They are worried the U.S. may have a distinct advantage...
...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...
...Princess Diana and Mother Teresa. It gave me a perfect place to glue a picture of another heroic woman, my mother, Constance Marie Ouellette. She provided me with a firsthand example of living a life of meaning and humble service. Hey, Mom, you made the cover of TIME magazine! BERNARD OUELLETTE Cape Canaveral...