Word: greenspans
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...even bullies get the blues. In fact, last week may prove that the redoubtable bond market suffers from a permanent case of existential fretting. From his temple-like headquarters in Washington, Federal Reserve Chairman Alan Greenspan offered up to traders what they had been counting on: he raised short-term interest rates on Tuesday by the largest amount since 1981. His goal was to restrain the economy and forestall inflation. If traders are convinced that inflation looms, they might dump bonds and thereby drive up the cost of the long-term loans that have financed the business recovery...
...Panetta about a man who had stopped him in Minnesota after hearing the President's pitch about the economy's improvement and the 4 million new jobs the Democratic Administration had helped create. Unpersuaded, the man told Clinton, "The problem is that every time ((Federal Reserve Board chairman Alan)) Greenspan raises interest rates, he takes money out of my pocket." In other words, Clinton complained to his chief of staff, "His message was, 'Every time you produce more jobs, interest rates go up and I get hurt...
...same time, since the flow of funds abroad cannot be precisely quantified, it makes it almost impossible for the Fed to gauge the domestic money supply and thus know with certainty how to manipulate it. "Estimates of currency held abroad are subject to considerable error," Fed Chairman Alan Greenspan testified before Congress last August. "We are looking at this issue in considerable detail...
...Chairman Alan Greenspan warned Congress that traditional statistics like the consumer price index may be less accurate a forecast of inflation than signals from financial and commodity markets. His testimony before a House subcommittee shed some light on reasons why the Federal Reserve has raised interest rates four times in 1994; the board is widely expected to hike rates for the fifth time when it meets again this week...
Inflation-zapper Alan Greenspan raised key interest rates by a whopping one-half of 1 percent today. The discount rate and the federal funds rate now stand at 4 percent and 4.75 percent respectively. (Both are rates that the central bank charges banks for loans.) Private banks dutifully took Fed chief Greenspan's cue and raised their lending rates as well.While a rate hike was anticipated, its magnitude was not: previously, economists pegged the increase to 0.25 percent. Today's action has the Democrats in Congress more than slightly peeved at Greenspan. And rightly so, says TIME's Business assistant...