Word: fed
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Dates: during 1990-1999
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...didn't warn you. For months, Federal Reserve Chairman Alan Greenspan has hinted that he would lift interest rates to head off inflation. Yields on Treasury bonds have been rising in anticipation that he'll pull the trigger on March 25 when the Fed Board meets. Higher rates are bad for the stock market but even worse for consumers. Even a quarter-point hike will hurt. Some 60 million households have "revolving" credit-card debt averaging more than $6,000, at an interest rate of about 17%. An uptick would add nearly a billion dollars in interest expenses. And those...
...noon, not knowing that Swiss border guards were on watch with binoculars to catch border-crossing refugees, we tumbled down into Switzerland. Right there, a mountain-stalking Swiss family from Champery stumbled onto us. They told us about the guards, hid us in the woods, fetched us after dark, fed us and lodged us, dressed us up to look like respectable people and accompanied us the next morning to a little mountain railway station. We headed for Zurich. Once there, we registered with the Dutch consul and so could not be sent back...
...They get fed up with the long hours and lack of control over your life. They often find that they are working too hard about things they don't care enough about and the money isn't worth it," she said...
...everyone applauds the Fed's inaction. Stephen Roach, chief global economist for Morgan Stanley, thinks higher rates are sorely needed to slow the economy and keep the bulls in their place. Fed Chairman Alan Greenspan said last December that the stock market was showing what he called irrational exuberance. Roach wants Greenspan to strengthen that warning when the Fed Chairman goes before Congress this week...
...what else could go wrong? The biggest risk remains the threat that the Fed may yet decide to drive up interest rates to end the frothy speculation that Greenspan worries about. That would draw money out of stocks and into the bond market. "The availability of money and credit is what makes [the stock market] go," says Bill LeFevre, a senior stock-market analyst for the firm Ehrenkrantz King Nussbaum. "If you turn off the availability of money and credit, the whole thing falls of its own weight." But LeFevre and most other experts doubt that the Fed will take...