Word: fed
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Dates: during 1990-1999
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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...
...Baumohl doubts it. "The markets had factored in a no-hike with a neutral bias, so this was a sell-off on the surprise," he says. "But when they realize that no hike is still no hike, they?ll get over it." They?ll have time ? Baumohl expects the Fed to stand pat on the bias all the way until spring, thus making sure there?s plenty of money lying around in the credit markets for any Y2K foofaraw. Of course, unjustified fretting is always a possibility...
...even include state-by-state approval by state regulators. God knows how long how thatcould take." The stock market, meanwhile, doesn?t seem to much care who wins; as long as big companies are throwing their weight around again, traders don?t even have time to worry about the Fed (meeting tomorrow. The smart money?s on no rate hike). Sprint shares were hopping Monday on the news of a duel for the maiden?s hand, and the Dow and NASDAQ alike were following suit. At least some folks still know the value of a wheelbarrow-ful of the green...
...health care: Next week, when the House of Representatives opens what promises to be a heated debate on managed care and the scope of patients? rights, watch for newly disenfranchised physicians to join forces with powerful ?- and unlikely ?- political allies. The Wall Street Journal reports that many physicians, fed up with their corroding autonomy, are turning away from their Republican roots and appealing to a new group of allies: liberal Democrats. While politics and medicine have coexisted since the dawn of modern insurance policies, the stranglehold of each on the other has never been more evident than it is today...
...Bradley; conversely, McCain?s fate in the Republican party could be directly proportionate to Bradley?s progress in the Democratic primaries. While the two men disagree on some controversial issues, like abortion, they share a dissatisfaction with the political status quo that will appeal to the many voters fed up with politics as usual and the perceived entitlement of Bush and Gore...