Word: biased
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After months of fussing and fretting that the Fed would raise interest rates, the markets finally let their guard down ? and got a nasty shock. No, Alan Greenspan didn?t hike 'em a third straight time. But he let everybody know he?s watching, moving the Fed?s bias toward tightening and sending a recently resurgent Dow into an instant 100-point mini-tailspin (thus smothering an earlier rally and ending the day even). "It?s a clear signal that the bank is concerned that the economy isn?t slowing down fast enough," says TIME senior economics correspondent Bernard Baumohl...
Wirzbicki acknowledges that conservatives are underrepresented in the Faculty and tacitly admits that they're usually maligned by the campus press. It might be expected that a group burdened by such bias would fight for redress and vie for special privilege. Some people do expect that, and they perceive a grab for personal accommodation when conservatives poke fun at the institution of victimhood or satirize Harvard's inequitable (on the low side) distribution of minority privilege to the conservative minority here...
...never mind my personal suffering. Without any bias whatsoever (I'll try to be an honest reporter for a moment), the Backstreet Boys delivered an energetic and completely spellbinding show. The concert struck like an avalanche, as the boys emerged from the sky (they might as well been "gods" descending from the heavens to their shrieking fans) amidst smoke, light and thundering fireworks to the opening score of Star Wars. They followed their "Larger Than Life" opening with other Millennium debut material, each song displaying a harder and edgier sound than their older hits. Likewise, the choreographed dancing and effects...
...intelligence official, however, said there is an important difference. Deutch's fault, he said, was composing classified documents on an unsecured terminal. No downloading was involved. As for the Lee case, ROBERT VROOMAN, former head of counterintelligence at the Los Alamos Weapons Laboratory, charged last week that ethnic bias led investigators to focus on the Asian American. But officials say Vrooman helped compose the original suspects list (which, apart from Lee and his wife, included one other Asian and nine Caucasians) and made his new claim only after being subject to disciplinary action...
Having heard from the Fed exactly what they expected to ?- that creeping inflation pressures necessitated a rate hike of a quarter-point (25 BASYS points) but no nudge in the now-neutral bias -? the markets may now exhale, slump a little, and get back to fundamentals. "The good news is that Greenspan remains ahead of the curve, acting promptly to hold down inflation just like he said he would," says TIME senior economics reporter Bernard Baumohl. "But the markets had their rally Monday ?- and most of the time it?s ?buy on the rumor, sell on the news...