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Meanwhile, Harvard's pressure defense created great results. Prasse-Freeman scored four straight points, and after a lay-up by Sigafoos, Gellert stole the ball and fed it to Prasse-Freeman. The sophomore point guard then was fouled and hit both free throws...
Bush aides were calling it a dream first week--even before Thursday, when Bush's big across-the-board tax cut got a huge boost from Federal Reserve Chairman Alan Greenspan. The Fed chief, who was the first village elder Bush went to see on his initial trip to Washington as President-elect, put forward last week the mind-bending idea that it was actually possible to pay off the national debt too fast. He told Congress that some sort of tax cut might do "noticeable good" if the economy keeps heading south...
...agreement. This is what Soros will say: he is up 9.5% to 10%. "A terrible two months for the market," he says as he shakes his head. Then, brightening: "But a great two months for hedge funds!" Soros thinks the U.S. is coming in for a hard landing. Fed rate cuts, he worries, won't come fast enough. Tax cuts? Too slow. The result: recession...
This time, however, he has a small audience who thinks he may be right. "George is signal," says a Fed adviser, referring to the high noise-signal ratio among advice givers to Alan Greenspan. Inside the Bush Administration there has been a move to push economic and security policymaking together, a recognition that on the world stage America's dollars are as important as its missiles. Soros just wants to help target where those dollars are pointed. He's not sure American pockets should be target No. 1. He gives a lot of his money away to support these views...
Should we get our economic prognostications wrong this year, let Alan Greenspan be our alibi. The Fed Chairman, like everybody else, seems unsure of what to make of the U.S. economy. In mid-January, Greenspan sent the recently-revitalized Dow back into four-digit territory with just a few downbeat words about "significant risks" left in the economy...