Word: feds
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...dimensions, implying considerable upside and downside risks to the economic outlook." Which means, says TIME senior economic reporter Bernard Baumohl, that Greenspan is "raising a yellow flag to indicate that the best of the nation's inflation news may be over. He wants everyone to know that the Fed stands ready and alert to raise interest rates, if that should become necessary...
Greenspan expects "no breakout of inflation," analyzes Baumohl, but he does believe it "could pick up a bit in 1999." One of the main reasons the Fed chairman cited for his prediction was what he called "worker depletion." Full employment has created a scarcity of labor in a number of sectors, explains Baumohl, and that shortage could cause a small rise in wage inflation this year. Having engineered one of the most remarkable economies of modern times, Greenspan now finds himself in the ironic position of working to ensure that success doesn't defeat itself...
...result, competition among suppliers is kicking into overdrive. In Europe, the myriad small companies that have traditionally fed the industry are clumping together in consortiums or getting bought by bigger companies. Dynamit Nobel is part of Germany's Metallgesellschaft. Budd Automotive, which introduced the all-steel body in 1914, is now part of Thyssen Budd Automotive, which will soon be folded into emerging industrial conglomerate Thyssen Krupp AG. Carmakers themselves are also creating new players. Both Ford and GM have turned their component divisions into distinct profit centers with fancy names like Visteon and Delphi, and Renault and Fiat recently...
...cause are hassle-free fares--no advance booking or Saturday-night stays required--to New York City; Philadelphia; Chicago; Baltimore, Md.; Orlando, Fla; Atlanta; and Indianapolis. "We're on the edge of a revolution out here," boasts Stamper, 50, a former aviation lawyer. "All over the country, people are fed up with getting on planes and finding out that the person next to them paid one-tenth of what they paid...
...This was our national soap opera," says neoconservative pundit Laura Ingraham. "It was our Days of Our Lives." So expect to hear more from people like Geraldo Rivera, host of a nightly CNBC talk show, who bashes Ken Starr the way he used to bash O.J. Simpson. Rivera has fed viewers an all-impeachment diet for months. Asked whether he will ever move on, he responds, "I have just begun the fight. I'm going to be talking about this next week. You have the Linda Tripp grand jury in Maryland. You have Julie Hiatt Steele. You have the whole...