Word: kellner
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...such break from the biggest U.S. bank. He must pay 19% for an unsecured personal loan, off somewhat from last fall's high of 25% but still a towering rate. Similar chasms between business and consumer charges are now common in banks across the U.S. Says Irwin Kellner, economist and senior vice president at Manufacturers Hanover Trust in New York City: "Unlike the prime rate and other lending rates to business, which have come down considerably from their recent peaks, consumer lending rates have hardly budged at all, and in some cases are higher today than...
...philosophy of buy-now-before-the-price-goes-up gripped the consumer. Sales of consumer durables held their own. Now, with inflation limping along at an annual rate of about 5%, there is no rush to buy expensive items. In fact, it often pays to wait. Says Irwin Kellner, chief economist at Manufacturers Hanover Trust Co.: "Buyers see that the longer they wait, the better the deals will...
...past month, the mortgage rate in many areas slipped from 18% to 16%, but auto loans at most commercial banks are sticking close to 20%, and installment credit is still about 18% in most areas of the U.S. Some relief may be in sight, though, for consumers. Irwin Kellner, an economist at New York's Manufacturers Hanover Trust, says,that by the end of 1982, auto loans may fall to 13%, and mortgages may be down...
...closer to $140 billion than to the $115 billion gap they foresaw just two weeks ago. The Government will have to borrow at least $100 billion in fresh cash during the rest of 1982, and must raise $35 billion of that by the end of September. Says Irwin Kellner, chief economist of Manufacturers Hanover Trust Co. in New York City: "If you want higher interest rates, just wait a few days. They'll come along very soon...
Like a freezing man who tries to heat his house by feeding the walls and roof to the fireplace, Government borrowing now threatens to devour virtually every penny that Americans had been expected to save and invest under Reaganomics. Bank Economist Irwin Kellner of New York's Manufacturers Hanover Trust calculates that federal loans could consume no less than 92.1% of net national saving this year. Worse, Kellner predicts that in 1983 Government borrowing might take fully 113% of the year's net saving, siphoning money out of virtually every sector of the economy to help keep...