Word: feds
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Dates: during 1990-1999
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...brought no lasting gains. Most say that's because Head Start has become more of a day-care service stressing health and nutrition, not literacy, as well as a jobs program for local mothers. It is true that kids can't learn unless they're healthy and well fed; but with no curriculum and loads of shoddy teachers, Head Start isn't living up to its potential...
...have a new economy or not? TIME convened a meeting of its Board of Economists in San Francisco this month to assess the impact of the Internet on more traditional arenas like the Fed's monetary policy, the domestic economy, and the breadth of America's socioeconomic divides. Everyone agreed on the easy part ?- the Internet is here to stay, and will have a profound effect on the economic life of the U.S. and the world. But what do we do about it? That, reports TIME senior economics reporter Bernard Baumohl, is where the disagreements started. "No one," he says...
...Could the Fed chairmen of the future have the world's easiest job? Some might argue that we are already in that golden age, though neither Sinai nor Alan Greenspan himself are willing to bet the farm on it. Sinai doesn't call the Internet a "wild card" for nothing; much about its effects on the economy have yet to be played out. "Frankly, we don't know enough about it at this point," he says. "How important is the Internet to the economy? All I can say is it's huge...
...Internet and the data networks are kind of a footnote in the whole thing," he says. The list goes on, from the mundanities of e-commerce ?- such as digital signatures or time-stamping ?- to the global question of formulating an international governing body for Internet issues. And the Fed won't be able to lay down on the job either, Varian insists. The easier it becomes to buy and sell anythingwith the click of a mouse, the more effective liquidity there is in the economy. It's a whole new kind of inflation headache...
...minds are going to be on being safe and protecting their property - not going to the mall." Look for retail sales to dampen considerably for a week or so - and therefore for the month - as folks covering their heads sit on their wallets. Which ought to put the Fed?s mind at ease when September?s numbers come out, just in time for the FOMC board?s next interest-rate sit-down in October. "This still looks like the Goldilocks expansion in place - it?s just right," says Baumohl. And as bears go, Floyd is like Smokey: keeping the economy...