Word: berners
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...outright recession should be short-lived, thanks to recent Federal Reserve rate cuts and rebate checks of up to $600 a household that families can expect by September, compliments of last month's $1.35 trillion, 10-year tax cut. (Singles without kids will receive about $300.) Richard Berner, chief U.S. economist for Morgan Stanley, says that while a recession may have got under way in the spring, the rebates should underwrite modest growth by this fall. (A recession is commonly viewed as two consecutive quarters of shrinking GDP.) Says Berner: "It's likely to be the shortest and mildest [contraction...
Next year, he estimates, the tax cut would make the difference between 2.6% and 3.4% growth. He believes the tax cut would significantly buoy employment and do little to stir inflation. Adds Richard Berner, chief U.S. economist at Morgan Stanley: "These tax cuts are a big deal. The tax-cut train has left the station, and it is clearly going to be stimulative...
...Secret to Circuit City, Wal-Mart and Home Depot is feeling the pain. Even online shopping isn't growing as fast as expected. Last week eToys announced its sales were lower than expected and it may run out of money in the spring. "For the consumer," says Richard Berner, chief U.S. economist at Morgan Stanley, "the negatives are beginning to outweigh the positives...
Many interviewed at the polls said they were confused about 1-2-3 and attributed that confusion to a feeling of separation from the city at large. "A lot of Harvard students don't consider themselves to be Cambridge residents," said Becki L. Berner '90, who volunteered for council candidate Kenneth E. Reeves '72 outside the Quincy House polling place...
Both awardees said they were pleased with their honor. "Regardless of the money, I'm honored that the HAA chose me as a representative, not only of the the house but of my peers, of those who contribute to campus life and the community," said Berner, who is involved in the Phillips Brooks House Association's (PBHA) Inner City Outreach summer camp for Dorchester children and serves as co-director of PBHA's program for the hearing impaired...