Word: hiked
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Alan Greenspan's implacable program of interest rate hikes may have its disbelievers in Congress and on the CNBC pundit scene, but the financial markets are not among the heretics. So it was that Wall Street continued to rally as the Fed voted to raise short-term rates not just 25 but 50 basis points at its meeting Tuesday, the latest attempt to hamstring the swaggering U.S. economy just enough to keep inflation at bay. Businesses, especially capital-intensive ones like the dot-coms, have no love of more expensive money. But Father Greenback has sold the markets...
Moved PermanentlyMoved PermanentlyFortune Investor DataNot that inflation is actually apparent; witness Tuesday's pre-opening announcement that consumer prices were unchanged in April. "The markets are taking it on faith," says Baumohl, that Greenspan is right about lurking price pressures, and a half-point hike is seen as welcome proof of his vigilance. "Fifty basis points means the Fed is in charge again and inflation is under control," he says. "The markets have already discounted it. They're happy about it. Anything less would have be met with disappointment." A half-percent increase also raises the hope that this hike...
...underhanded method by which the Cambridge City Council proposed a salary hike for its own members, although technically and procedurally sound, is a sad example of public officials deliberately misleading those they purport to serve...
...waste of time." But while the public's time should not be wasted debating nickels and dimes, the council should have been more candid about subjecting this amendment to some level of public scrutiny. Nobody doubts that public officials should have salaries adjusted for inflation. But this particular salary hike yields a net increase, after adjusting for inflation, of roughly 20 percent...
...city councillors voted to bypass a public hearing on a future salary hike for themselves and members of the school committee, deciding instead to go directly to a second reading of the amendment next month...