Word: feds
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...workers to make a certain percentage of the median family income, regardless of how high or low that might be. Still more declare that wages should be high enough to prevent workers from needing government assistance—though never explaining why, if the goal is to keep families fed and clothed, available public aid should be ignored. And finally there are studies that rely on “expert budgets,” which in turn are based on individual, normative assessments of what constitutes deprivation. One such expert told the HCECP that a basic budget...
...better than to play headline-grabbing forecaster in his speech to small business leaders in San Francisco. He limited his outlook for the recovery to another acknowledgement that economic indicators have gone from "unremittingly bad" to "increasingly mixed," and that "significant risks remain." (That much we got from the Fed last dose of boilerplate in December, although ambivalence-ridden stocks still sold into Friday's bell on the restatement...
...imbalances have not been allowed to fester" - whatever that means - and "if the recent, more favorable developments continue and gain momentum, uncertainties will diminish" and good times will soon follow. It might take another interest-rate cut at the next Fed get-together ending Jan. 30, and then again it might not; media consensus on the speech's portent was that Big Al "left the door open" to another...
...Leaving the door ajar is one thing Greenspan has always known how to do, and anyone expecting a rate-policy telegraph Friday from the FOMC was deluding themselves. But whether it's the prospect of the end of his long tenure as Fed head - his term runs out in June 2004 - or just his place at the center of some truly historic economic times, Greenspan has become rather fond of telling the story of the last few years, and he tells it pretty lucidly for a man who spent the first ten years of his chairmanship elevating inscrutable "Fed-speak...
They have long known this on Wall Street, where year-end bonuses can make up almost all of annual compensation. But this is the first recession since flexible compensation took hold throughout the work force in the '90s. A Fed survey shows that 95% of companies now give a year-end bonus, stock options, profit sharing or commission payments--up from 65% five years ago. Many companies offer such flexible pay to employees well below top management, and typically this compensation falls in bad times...