Word: fed
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Dates: during 1990-1999
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Some history: in 1988-89 a Greenspan-led Fed boosted rates 11 times in 11 months. Nine raises were quarter-pointers -- just like the recent one. Would a rerun be wise, especially since a tough recession followed those increases? That brings up two other questions...
...answer least heard of late is d). True enough, the increase engineered by the Fed in February -- a boost in the short-term rate from 3% to only 3.25% -- was still low by historic standards and applied only to the federal funds rate on loans from one bank to another. But even that modest move sent stock and bond markets into a tizzy, largely because the boost was the first after a five-year fall in borrowing costs. Moreover, the almost universal assumption % is that Greenspan, having reversed course, probably will not stop there...
Greenspan's supporters see real signs of incipient inflation: recent rises in sensitive commodity prices; delays in deliveries of goods, which suggest tightening supplies that might enable some sellers to make price increases stick. Such pressures will abate, they think, if the Fed makes clear that it will raise interest rates enough to deprive inflation of the tinder of cheap loans. A few economists are worried that the Fed already has pumped too much money and credit into the economy. In their view, Greenspan should have raised interest rates earlier and more sharply than...
...Music: Fed up, the Metropolitan Opera fires one of its biggest but most temperamental stars, soprano Kathleen Battle...
Harvard gained momentum from Nielsen's goal and drew two power plays in the next five minutes. On the second power-play attempt, Martins fed Brian Farrell with a cross-ice pass, and Farrell one-timed it through Bracco's legs with 2:43 to go in the opening stanza...