Word: feds
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...White House fed out a little more line in the ongoing saga of Webb Hubbell, disclosing that the effort to help Hubbell find work following his resignation from the Justice Department in April 1994 extended up to the President's very door. After acknowledging Tuesday that former chief of staff Mack McLarty and current chief Erskine Bowles made calls and visits on Hubbell's behalf, White House special counsel Lanny Davis added that the President and First Lady "would not have discouraged Mr. McLarty from assisting Webb Hubbell, because he was an old friend," and indeed "may have been generally...
...Alan Greenspan has all too famously noted, the market has a little air in it. Watch for Friday s Labor Department report to see just how skittish investors have become. A stronger-than-expected showing could set off another Wall Street jolt fearing further interest rate increases by the Fed. For investors, the skinny remains: don't panic. Good news is still good news, and the economy, after all, is strong. But as snow fell Monday on downtown New York, the traders in Wall Street s vaulted warrens continued to usher March out like a polar bear...
Breaking ground at Har Homa just as negotiations on a "final status" agreement were supposed to get under way last week seemed so unnecessary, so calculated to disrupt the delicate proceedings. To reassure his hard-line constituents that he would not back down, Netanyahu complained he was "fed up" with international charges that "everything we do is a violation of the accords and everything the Palestinians say is in compliance." To appease the peace camp, he tossed out an old proposal to accelerate the final-status talks so that agreement on the hard issues--such as Jerusalem, borders, Palestinian sovereignty...
...YORK: Investors fearing more rate hikes by the Fed sent the Dow plunging by more than 216 points, ending the day down 140. The decline is the eighth worst point drop in the Dow's history. Statistics published today showing robust home sales and a decline in unemployment claims -- both signs of the economic growth that the Fed fears will fuel inflation -- helped spark the sell-off. Consolidation of end-of-quarter portfolios in time for the three-day Easter holiday were also to blame. The bond market benefitted from those fears, with yields on 30-year Treasury bonds hitting...
WASHINGTON, D.C.: After weeks of increasingly blunt hints from Fed Chairman Greenspan, the Federal Reserve pulled the trigger Tuesday, announcing a quarter-point increase in interest rates. The central bank raised its federal funds rate, the rate charged for overnight loans between banks, from 5.25 percent to 5.5 percent. That should lead to a corresponding increase in the prime rate from 8.25 percent to 8.5 percent, and in turn a hike in the rates of the millions of consumer and business loans that are linked to the prime. Despite criticism that at its current 2.3 percent rate, inflation is quiescent...