Word: discounts
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...Wall Street feels so good? After five consecutive daily increases, the Dow Jones industrial average closed at a record 3101.52 last week. The bull run has pushed the Dow index up 167 points, or nearly 6%, since Dec. 20. That was the day the Federal Reserve Board lowered the discount rate -- which is what the Fed charges banks for borrowing money -- a full percentage point, to a 27-year...
...clients: "Will someone please remind this guy that he is Chairman of the Federal Reserve Board of Governors! Send him some antidepressants. Consumers are frightened enough without hearing all this depressing talk from Mr. Greenspan." Urged Yardeni: "Let's have a full-point cut in the discount rate today!" The message evidently got through. Late in the week Greenspan turned Santa Claus. He lowered the discount rate, which is what banks are charged for borrowing money from the Fed, by a full percentage point. The new 3.5% rate is the lowest in 27 years. Commercial banks quickly followed by dropping...
CAPTION: FED DISCOUNT RATE...
Weekend; $5 discount for students...
Midweek (student discount...