Word: feds
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...will hold the rate that commercial banks charge one another for overnight loans at 5.5 percent. A rate hike would have meant higher borrowing costs for millions of credit card-wielding Americans, but would also have slowed the economy and dampened inflation. Characteristically refusing to comment on the decision, Fed chairman Alan Greenspan and his colleagues left Wall Street economists to speculate over their reasoning. Analysts had expected at least a slight increase because the economy expanded at a rapid 5.6 percent annual rate in the first quarter, the best in 10 years. But several other reports released in recent...
...collecting classified information on the missile forces and was planning to try to sell it to someone at the U.S. embassy in Moscow. The next such officer might be willing to sell not just secrets but a warhead--or the plutonium to make one. "The missile forces must be fed," says Robert Bykov, a retired colonel of the SRF. "If those who guard Russia's nuclear weapons go hungry, we might face some terrifying consequences...
...what economists call "exogenous shocks"--a fancy term for unforeseen events like Iraq's 1990 invasion of Kuwait--could shatter the rosy forecasts. So could overzealous monetary tightening by the Fed, which may nudge up interest rates for the second time this year when it meets next week. "Expansions don't die of old age," says David Wyss, research director for DRI/McGraw Hill. "But, like people, they do become vulnerable to shocks." This time around, says Wyss, there seems to be enough cushioning to get us to the next millennium in style...
After a decade of grim headlines about spiraling hospital bills and shifty HMOs, the boom in self-medication comes as no surprise. "People are fed up with the high costs and side effects of drugs," says Earl Mindell, a registered pharmacist and author of Secret Remedies (Simon & Schuster, 1997), a new study of the self-care movement. "We're doubling our knowledge about nutrition every 18 months. So people wonder, instead of treating the symptoms as we've always been taught, why not help your body fight off the problem in the first place...
...relaxing one evening when an alarm rang in the astronomy module. Rushing to the little lab, he found a cosmonaut swatting at a blaze erupting from an air canister. Linenger and his crewmates hurried to help, but the feeble fire extinguishers they carried were no match for the oxygen-fed flames. Ordinarily if things got out of hand, the crew could evacuate in a Soyuz capsule docked outside. But this time the fire blocked their path. Fortunately, the flames exhausted themselves before it became necessary to abandon ship, and the crisis passed...