Word: feds
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...slender collection of published work already earned him the PEN/Faulkner prize for fiction and the Flannery O'Connor Award, plus a handful of other literary accolades? The answer hinges partly on the accident of his birth and the raw materials that fed his literary imagination. Now 41 and teaching English and creative writing at Emory University in Atlanta, Ha Jin had the good luck to be born outside the U.S. and hence be protected from the homogenizing and potentially trivializing influences that afflict so many U.S.-born aspiring authors. Beginners are advised to "write about what you know...
Twenty seconds later Scott recorded another steal and fed Hill on the break for an easy deuce. When the show ended, Scott had tallied six assists, five steals and five rebounds to go along with his 24 points...
...merely exhausted? Prices remained somewhat stable the rest of the week, and by Friday the Dow stood 9.9% below its all-time high and few investors seemed much worse for the wear. There were some casualties, among them speculator George Soros, whose company lost $2 billion on Monday. Several Fed presidents joined Greenspan in talking up the economy. "The basics of the U.S. economy are strong," said Cathy Minehan, president of the Boston Federal Reserve Bank. "I see no reason why that should change." Thomas Melzer, president of the St. Louis Federal Reserve, said the economy was doing "exceptionally well...
...Employment Cost Index, which the Fed chairman watches very closely, rose 0.8% in the third quarter of 1997, the same as the previous quarter. It's a signal that labor costs for businesses are not picking up even though the unemployment rate hovers at the lowest level in a generation...
...package seemed to calm world stock markets, at least temporarily, leaving the Fed chairman to puzzle anew over the combination of muscular economic growth and low inflation that have characterized the U.S. expansion since 1992. He frequently refers to the phenomenon as a "new paradigm," although he remains chary of how durable it will prove. Greenspan and other economists credit the spread of technology with improved productivity, which paves the way for faster economic growth without price increases. The problem: productivity increases are difficult and sometimes impossible to document. Nevertheless, there is no doubt about the spread of high technology...