Word: greenspans
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Dates: during 1990-1999
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This time, it seems, he was warning us about irrational panic. "Greenspan knew about the Producer Price Index numbers ahead of time," says TIME senior economics reporter Bernard Baumohl, referring to the big scary inflation number that ? along with Alan Greenspan?s own Thursday night speech about an "asset bubble" ? threw the markets into an early-morning tailspin Friday. "He warned about wild fluctuations because he knew how the market would react to the bad news about producer prices, and his role is to warn investors that an adjustment in stock prices could come quickly...
Getting nervous? In the past two weeks, the Dow Jones industrial average has fallen 529 points, a drop of nearly 10% since its August peak, punctuating a dismal third quarter. Investors are hoping--praying might be a better word--that Fed Chairman Alan Greenspan will decide against the third interest-rate hike of 1999 when the central bank's Open Market Committee meets this week...
Interest may linger, but in the end the most important factor affecting philanthropy toward Harvard will be the economy, a reality not lost on those who toasted Neil Rudenstine and Alan Greenspan in the same breath...
After months of fussing and fretting that the Fed would raise interest rates, the markets finally let their guard down ? and got a nasty shock. No, Alan Greenspan didn?t hike 'em a third straight time. But he let everybody know he?s watching, moving the Fed?s bias toward tightening and sending a recently resurgent Dow into an instant 100-point mini-tailspin (thus smothering an earlier rally and ending the day even). "It?s a clear signal that the bank is concerned that the economy isn?t slowing down fast enough," says TIME senior economics correspondent Bernard Baumohl...
...April 23, 1996, under the letterhead of the venerable bank founded by Alexander Hamilton, which made the very first loan to the fledgling U.S. government in the 1780s, Gurfinkel wrote a fulsome letter to Federal Reserve chairman Alan Greenspan, urging the Fed to let Inkombank open a representative office in the U.S. Never mind that 14 months earlier some of the bank's largest shareholders had filed suit charging Inkombank with outright theft of $40 million in capital. Or that just a month before, the Russian central bank had issued a harshly critical audit of Inkombank irregularities...