Word: feds
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Those who think it is too close are pinning their hopes on the Federal Reserve Board to cool the economy by raising interest rates more than bond traders already have. But the Fed at a meeting last week decided for the moment to do nothing. One reason: Chairman Alan Greenspan is not at all the antigrowth fanatic he has often been called. He is known to believe the key signals of inflationary danger are bottlenecks in the economy: shortages of labor or goods that drive up wages and prices. Apparently he sees no conclusive signs yet that such bottlenecks...
...Fed raises rates then, it seems sure that it will dismay both the Republicans, who will have just officially named Bob Dole their candidate, and the Democrats, who will be about to convene and reanoint Bill Clinton. Dole is assailing Clinton for being willing to settle for inadequate growth, as evidenced by the 2.5% 1996 forecast. Dole's advisers think a promise of faster acceleration, to be achieved largely by tax cuts, may be just the thing to bring the President down. Clinton boasts that he has already achieved robust growth--10 million new jobs since his Inauguration...
...press has caught Mad Lie disease, marked by a loss of appetite for the truth and projectile regurgitation of anything fed to it. No one was surprised when the New York Post and the Washington Times reported wild allegations from a slapped-together and unsubstantiated book about the Clintons. But when a formerly immune host such as ABC's David Brinkley succumbed to the infection and gave airtime to the screed's author, retired FBI agent Gary Aldrich, the sickness had reached epidemic proportions...
...TIME's Bernard Baumohl. "This indicates the economy is stronger and more resilient than investors and economists had thought. Everybody will keep an eye on economic data between now and August 20 to see if the numbers indicate the economy is continuing to grow at a strong pace." The Fed has kept rates steady at 5.25 percent since January, but with the economy growing at an annual rate of about 4 percent last quarter that is likely to change. "The question now is will the Fed raise rates 25 or 50 basis points," Baumohl says. Economists had been predicting...
...Many of the people who voted for Netanyahu hope that maybe this hard-line perennial Zionist can make peace with the Arabs without any land concessions. Netanyahu is more of a seasoned politician than a war hero. He promised the people everything they wanted to hear, and he fed the public's hunger for assurance of its territorial security. But history will prove that the Jewish people, as well as the Arabs, were conned out of peace by a self-serving politician with a hidden agenda. ABDO ANTUN Beirut...