Word: hiked
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Greenspan took off the gloves. The central bank pushed rates up half a percentage point in May, the largest single hike in five years. The benchmark federal-funds rate jumped to 6.5%, the highest in nine years. Now Greenspan had committed to a course that would bring the economy to heel. Or to rest...
Surprise! The danger turned out to be the reverse: the economy didn't suffer from a sharp breakout in inflation. Instead the hike in energy prices led to deflation. The oil shock was the equivalent of a $100 billion tax increase on consumers and businesses. Result: the erosion in purchasing power forced CEOs as well as ordinary consumers to cut back on spending. Since such general expenditures make up more than 80% of all economic activity, the economy took a beating in the second half of the year and grew at a less than 2% annual rate, compared with...
...operating in six states, Green Mountain bets that Ohio, Texas and others will make up for lost California accounts. By autumn it expects to serve about 600,000 nationwide. That's pretty low wattage, but with OPEC threatening to hike oil prices again, the future is, well, brightening. This year, an additional 1,000 MW of green power will come online, thanks to a doubling of wind capacity. Green-energy believers such as Bingham and MacAusland will just have to pray the politicians won't screw it up again and will let the people have the right to pick their...
Walking tours, which snake through nearly every borough and neighborhood, have long been popular in England. But with Britain's rail system beset with problems and grueling traffic tie-ups almost the norm, their appeal has grown. More of a leisurely stroll than a hike, the walks usually run two hours, and at a price of 5[Pounds](about $7.50), and 3.5[Pounds] for seniors and students, they are a great bargain in this pricey country. And they are catching on beyond England. Similar excursions are thriving in Paris, Rome, Prague, New York City and San Francisco...
...operating in six states, Green Mountain bets that Ohio, Texas and others will make up for lost California accounts. By autumn it expects to serve about 600,000 nationwide. That's pretty low wattage, but with opec threatening to hike oil prices again, the future is, well, brightening. This year, an additional 1,000 MW of green power will come online, thanks to a doubling of wind capacity. Green-energy believers such as Bingham and MacAusland will just have to pray the politicians won't screw it up again and will let the people have the right to pick their...