Word: bernards
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Dates: during 1990-1999
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...Reported by Bernard Baumohl/New York and Adam Zagorin/Washington
...feel there's no better leader for Brazil than Cardoso right now," says TIME business reporter Bernard Baumohl. "But after the election, they're counting on deep budget cuts and austerity measures, and the $30 billion bailout that they're trying to put together will be conditional on that." As always, the economic powers that be are pointing to a light at the end of the tunnel -- an optimism that's selling rather poorly in Indonesia and South Korea right now. But Baumohl says that Brazil is healthy enough -- and vital enough to U.S. interests -- to pull through. "If Brazil...
...about to suffer. Currency controls opposed by Anwar came into effect Thursday, clamping down hard on the movement of capital, forbidding currency trading and fixing the ringgit's exchange rate. "Prime Minister Mahathir has effectively pulled his country out of the international economy," says TIME business reporter Bernard Baumohl. "By sharply limiting outflows of capital, Malaysia has scared away long-term investors whose capital is crucial to the building of infrastructure...
...People are looking into luxury fabric," said Bernard F. Casey, a sales associate at London-based French Connection, at 206 Newbury...
...Greenspan's backdoor way of telling us that there will be a drop in rates sooner rather than later," says TIME business reporter Bernard Baumohl. "He's convinced that deflation is as big a problem for the U.S. as inflation, and that means he can lower rates in order to ease the currency strain on Asia and Latin America." So now the secret's out about Tuesday's FOMC meeting -- maybe. The Fed can still stand pat, and if it does, all those Greenspan-induced gains could go right out the window...