Word: feds
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...interviews and polls of the Japanese public show little distress over either Obuchi's failing health or his replacement by Mori. Seemingly, the Japanese people have such little faith in their government that one party operative is equivalent to another. More than the back room politics and the spoon-fed media, the disillusionment of the Japanese people is disheartening. As the downward spiral of the Japanese government continues, economic recovery seems to slip farther and farther away. Without the support of the people, significant improvement is impossible...
...Many analysts say a gray cloud has been hovering over the NASDAQ since New Year's, one noticed by institutional investors but not by the individual investors caught up in ongoing enthusiasm for all things Internet. Throw in the promise of continued interest rate hikes by Fed chairman Alan Greenspan and it adds up to a major correction waiting to happen. A correction is generally held to be a 10-percentage-point drop-off. At its low point Tuesday, the NASDAQ was off about 25 percent from its high...
...continue to raise rates? The Fed plainly is paramountly concerned that rising stock prices are creating such a glow around the nation's dinner tables that a family spending barrage is about to render household goods scarce and send consumer prices spiraling through the roof. It's an interesting theory. It's also a leap that could shut down the expansion prematurely and tarnish Greenspan's sterling reputation--potentially derailing Al Gore's presidential train, much as a weak economy did George Bush...
Every time Fed Chairman Alan Greenspan opens his mouth the stock market gyrates, making an already volatile market even more so [BUSINESS, March 13]. I think Congress should pass a law forbidding the chairman of the Federal Reserve Board to comment on stock prices with the chance of influencing the market direction. We should let the free-market economy be free of manipulation by powerful people inside and outside the government. SHALINI MOONDRA Marlboro...
When will Greenspan wake up? The Fed has been blindsided by the phenomenal increase in stock-market valuations. It responds with anemic interest-rate increases designed to cool expansion and control nonexistent inflation-this despite a fundamentally healthy economy. Clearly Greenspan's Fed is suffering from its own brand of irrational exuberance. The rate increases and threats of what might happen punish traditional investors, while the wild speculation Greenspan seems preoccupied with taming laughs in his face. PETER L. ROGERS Darien, Conn...