Word: hiked
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Dates: during 1990-1999
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...what TIME senior economics reporter Bernard Baumohl calls "a one-two punch and an uppercut." A skyrocketing trade deficit (proving that consumers are still spending way too much) and a sliding dollar (against not only the yen but also the euro) have both rekindled fears that the Fed will hike rates at its board meeting October 5. The uppercut? Microsoft prez Steve Ballmer?s must-have-had-a-few-too-many comments to a roomful of tech reporters about how tech stocks - even his - are way overvalued. Investors fell all over themselves to drop the Nasdaq 108 points, with...
...market's mind was on Greenspan again Wednesday as a tame inflation number - a 0.3 percent hike in the Consumer Price Index, with just a 0.1 hike in the "core" rate - sparked a 100-point rally that traders promptly sold off for fun and profit. On the Fed watch, TIME senior economics reporter Bernard Baumohl figures today?s number and yesterday?s ?- a mildly alarming boost in retail sales ?- cancel each other out. "My sense from the last meeting was that the Fed was done unless it saw some clear and unambiguous evidence that inflation was on the rise...
...three steps and a stumble" has lost its magic too. Yet the theory deserves comment as an alert to the dangers of rising interest rates. Last week the Federal Reserve bumped its target for the benchmark federal-funds rate to 5.25% from 5%. It was the second such hike this summer, and many believe that the Fed will move again in October. That would fully reclaim the cuts put in place during last year's global crisis and give the Fed more room to cut rates all over again if anything goes wrong at year's end. (Remember...
Students will go to the polls in less than two weeks to vote on a referendum that could force the Undergraduate Council to reverse a $10 hike in its term-bill fee and to alter its election process...
...week of bad news," says TIME senior economics reporter Bernard Baumohl. "The pace of new job creation for August is less than what economists had forecast, and the pressure on wages has been slight." That spells low inflation, notes Baumohl, and it means that worries about another Fed rate hike this year have been, if not entirely put to rest, at least sent upstairs for a nice long nap. Burgers? Hey, why not break out the steaks...