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Federal government spokesmen estimate that the nation's inflation rate, as measured by the Consumer Price Index(CPI), will be 4.3 percent this year and 3.9percent...
...Bill Clinton will be remembered for The Speech That Would Not End, turning the Omni into the hall of the numb and the restless. Clinton stuck with a 19-page snoozer of a nominating speech through signals from the chairman to stop, through a flashing red light and through index fingers drawn across the throat, the broadcast symbol for "Cut it short." His humor returned the next day: "It wasn't my finest hour. It wasn't even my finest hour and a half...
This decade added wrinkles, such as computerized trading and increased use of sophisticated techniques for minimizing losses. One of the most popular examples is gambling on where Standard & Poor's 500 stocks are going. A successful bet that the index will fall could offset losses in declining stocks. Stock-index futures are traded much like any other commodity, except that they do not represent anything real, such as wheat, tin or pork bellies...
...exchanges, at which the simultaneous program trading of stocks in New York City and index futures in Chicago can create fearsome volatility, agreed to impose restrictions when prices begin falling out of control. One safeguard will be a "shock absorber," a half an hour price floor that will go into effect on the Standard & Poor's 500 index whenever it drops on the Merc by the equivalent of about 96 points on the Dow Jones average. Under even more stormy conditions, if the Dow drops 250 points, a "circuit breaker" would halt trading for one hour on both...
...drought drags on, it could start to harm the economy. Although food costs account for just 17% of the Consumer Price Index, double-digit increases in that component could push the overall inflation measure upwards by a percentage point or two. Some economists, like David Jones of the investment firm Aubrey Lanston, believe the food-price run-up will combine with rising wages and other commodity shortages to set off a genuine inflationary spiral. (The price of aluminum, for example, has risen more than 75% during the past year, while copper is up more than...