Word: ratan
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Dates: during 1990-1999
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...first time in nearly three years, theFederal Reserve cut interest rates by one-fourth of a point today, in hope that easing borrowing costs might prevent the U.S. from slipping into recession. "They did the bare minimum they could to tell the markets they were concerned," saysTIME's Suneel Ratan. It seems to be working: while at least two major banks reduced their consumer loan rates to 8.75 percent, the Dow Jones Industrial Average surged more than 48 points to close at another record 4,664. But Ratan notes that the markets were counting on the move: "Ordinarily, the impact...
...donations, by the way, reportedly came from stolen money.) The judge drew his response today from the Gospel of Luke: "For unto whomsoever much is given . . . . of him shall be much required, and to whom men have committed much, of him they will ask the more." Even so, Ratan says, "it's a sad day. He was mayor of Little Rock and a former chief justice of the Arkansas Supreme Court. To have it end up this way, it's never pleasant to watch...
...Reported by Bernard Baumohl/New York, William McWhirter/Detroit, Suneel Ratan and Karen Tumulty/Washington
...when the Fed convenes next month, as many stock and bond investors hope he will. ButTIME's Suneel Ratansays the current economic signals are now so confusing that even Fed members are waiting for the fog to lift. Even if they do not cut rates at the July meeting, Ratan reports, the governors may cut them at any time as more troubling economic news develops...
...opponent, Sen. Bob Kerrey (D-Neb.), warned that such swift and massive deregulation would only strengthen telecommunications giants.TIME's Suneel Ratansays the bill constitutes a grand, laissez-faire experiment with a $700 billion industry. The result may be more choice and cheaper service, but of a different sort, says Ratan -- "like when shopping malls replace downtown stores: you have more choice, but it's the same choice in Dubuque or Peoria or Los Angeles...