Word: bernard
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...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...
...this 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...
BUILDING BY THE BOOK. When Bernard Tschumi, a mahatma of architectural theory, does build something, naturally a book follows. Tschumi Le Fresnoy: Architecture In/Between, although risibly titled, is an engaging study of the conversion of an old leisure center in France into a high-tech film-and-performance complex. Tschumi's simple idea--put a canopy over the whole building, roof and all--has led to a fascinating, complex new space...
...University Marshal introduced the recipients--Arrow, Harvard Professor Bernard Bailyn, Block, Professor Andrew F. Brimmer, statistician David R. Cox, Greenspan, Literary Theorist Julia Kristeva, and Author Mario Vargas Llosa. Rudenstine bestowed a witty epithet on each recipient--describing Greenspan as the man who "keeps America green"--before conferring the degrees...
...good reason why Clinton the politician (a far more familiar incarnation) is letting Commerce Secretary Bill Daley do the haranguing, and why he's trying to kill the bill without a well-publicized veto: Al Gore. "Clinton has to be careful about this," says TIME senior economics reporter Bernard Baumohl. "The steel unions are very powerful, and they really want these quotas. Gore ?- and Hillary too ?- is counting on union support to win, and Clinton?s opposition is going to make them angry." It already has. The United Steelworkers of America arranged to have steelworkers descend on the Capitol today...