Word: ratan
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TIME's Suneel Ratan reports that Senate Republicans will begin a new round of Whitewater hearings Tuesday by hammering at apparent inconsistencies in accounts of the removal of files by White House personnel from the office of top Clinton aide Vincent Foster immediately after his death in 1993. That night, then-White House counsel Bernard Nussbaum, Hillary Rodham Clinton's chief of staff Margaret Williams and aide Patsy Thomasson were in Foster's office, reportedly searching for a suicide note. They say they removed nothing. But Secret Service guard Henry O'Neill has told Senate investigators that...
...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...