Word: hiked
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...This is why O'Neill's résumé does not include a top job in the Reagan administration, why he spoke up in favor of Bush the elder's infamous tax hike, and why he called the Clinton administration's record of fiscal discipline and economic stability "wonderful...
Last week's emergency increase offers a brief respite, and this week, at the behest of President Clinton, state officials will journey to Washington to try to come up with a more long-term solution. But the rate hike, which was only a third of what the utilities had requested, will probably cost the state's businesses as much as $400 million, pushing up prices across the country for fruit, vegetables and cheese. And many angry consumer advocates, who think they haven't seen the end of the increases, promise nothing less than a rebellion. Charges David Morse, a manager...
WALKING We already knew that walking can reduce adult-onset diabetes and coronary heart disease. But researchers at Harvard University have found another good reason to take a hike: to prevent stroke. According to the Harvard Health Letter, even people who had been sedentary for much of their life had a lower stroke risk soon after they started walking regularly. Speed counts, though. For the fastest walkers, the risk reduction was an impressive 40%. A leisurely stroll does some good, but the study showed that a brisk pace of three m.p.h. or more is the key, even more important than...
...Greenspan has left Bush a handy platform in the meantime. A growing chorus of economists think Greenspan's last half-point hike in May was overkill, and that the slowdown is indeed happening too fast. The markets are demanding a full point of interest rate cuts from the Fed chairman in the next six months, and many expect him to begin with a surprise, pre-FOMC-meeting cut in the next few weeks, coming perhaps as soon as the next unemployment figures, due out in early January. That would only help Bush set a properly gloomy mood...
...softening up the ground a little for his $1.3 trillion tax cut. It's not Clinton's fault, though it's still on his watch; the economy, with a lot of help from global doldrums (Japan just keeps getting worse and worse), is coming in for a rate-hike induced landing after a torrid spring...