Word: hikes
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Dates: during 2000-2009
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Never mind Wall Street; Alan Greenspan wants Main Street to tone it down a bit. Greenspan issued another rate hike on Tuesday, a quarter-percent rise that brings the Fed's short-term interest rates to 6 percent - a five-year high. For a change, neither the NASDAQ nor the Dow flinched; traders have expected the hike for weeks. If Greenspan's plan works, the rate hike (and the two or three additional increases expected in coming months) will have a three-faceted impact on slowing consumer spending, aaccording to a plan outlined last month in the Fed chief...
...easy play will be a bank stock fund because the whole group will move. If you're worried about missing it, start nibbling soon--but not before the next Fed hike. Stock pickers should look for banks and thrifts in growth regions like the South and West and with diverse income streams. Tom Theurkauf, analyst at Keefe Bruyette Woods, likes Washington Mutual and Fleet Boston. Scott Black, president of Delphi Management, likes North Fork and Peoples Heritage. Among larger banks, Chase and Bank of New York look attractive. But beware banks with operating difficulties, like First Union and Banc...
Crew leaders supervise small groups of 16 to 24-year-olds on conservation projects throughout the Green Mountain State. This isn't a nature hike--work projects typically include stream bank stabilization, trail maintenance, bridge construction and carpentry...
...Philip Morris (and a small stake of Kadlec dollars) and has doggedly held on to the stock, believing that MO is the ultimate value play. Sanborn figures the company could easily raise prices if needed. For instance, it covered its state settlement with a 75 cents-a-pack price hike. The "armageddon risk" of a jury bankrupting the company is overstated. And Congress won't knock the Marlboro Man out of his saddle. Too many jobs are at stake, and then no one would be able to collect...
...Making his biannual Humphrey Hawkins report to Congress, Greenspan again delivered the familiar sugar - the U.S. economic juggernaut is plowing on with no slowdown in sight - and then the medicine: This prosperity has to be kept at a steady pace. Financial analysts take this to mean that a substantial hike in the Fed's lending rates is in order...