Word: bonding
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...subpar economic performance? is not yet over, and we are not free of the risk that economic weakness will be greater than currently anticipated, and require further policy response. This was classic Fed lingo for "another rate cut in August." (This was also aimed at convincing inflation-fearing bond markets to bid down 10-year Treasury notes on the supposition that with the value of money expected to stay relatively strong down the road, a profit can still be turned with lower interest rates...
...Inflation is still far, far away: "There has been little, if any, acceleration in the index of core personal consumption expenditure prices, which we consider to be a more reliable measure of inflation" (than the risen CPI number released just that morning). More bond-market jawboning - those long-term rates, over which Greenspan has only psychological control, are the ones that determine mortgage rates and refinancing opportunities and thus have untold stimulatory power for consumers. (You may also recall that the great economic windfall of federal budget deficit reduction during the Clinton years was a reduction in long-term interest...
...same, to do what smart marketers do, to ferret out our deepest desires--sex! power! beer!--or to bond us to brand names with the kind of tribal loyalty you ordinarily find only in the Balkans, is no easy business. It's art and science, and the ingenuity it requires is something to admire. The six people we profile in this chapter of our Innovators series have taken up the tools of anthropology, mathematics and virtual reality. No subatomic particle, no stretch of the human genome has been studied as closely as you, dear 21st century consumer. And our Innovators...
...rates into a slowdown without fear of stagflation. And Greenspan even took this Fed boilerplate up a notch, expressing what sounded like frustration that despite the Fed's six rapid-fire cuts in short-term rate targets, "most long-term rates have barely budged." Translation: Come on, bond market - I don't see inflation, so why not trade those 10-year bonds a little cheaper so people can get a deal on their mortgage? This is known as jawboning, and it shows that Greenspan, like the markets, is reaching a point of short-term desperation. (However, it did work...
...rent Strokes when he and three associates were arrested last week. New York City police called it a case of strong-arm robbery, in which two teen victims were relieved of $40. Iler pleaded not guilty to two charges of second-degree robbery and was released on $2,500 bond. Police said Iler had a bag of marijuana and a bong in his pocket at the time of his arrest. HBO released a statement saying Iler will be welcomed back to his fictional crime family with open arms. His real mother was less jovial, noting this...