Word: rated
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Dates: during 1990-1999
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...that Greenspan is good. Just two days after the Fed chairman raised interest rates to tap the economy?s brakes just a little, it?s already slowing down. The Commerce Department reported Thursday that GDP growth from the April-to-June quarter was actually 1.8 percent, instead of the 2.3 percent the government had estimated a month ago. In reality, of course, that has nothing to do with Tuesday?s action ?- even with a strong market reaction, an interest rate hike takes at least six months to reverberate through the economy ?- but it?s sure got plenty to do with...
...attract desperately needed foreign investment, but its constituents are under mounting pressure in an economy showing no more than 2 percent growth ?- and suffering painful blows in such key sectors as gold mining. "The increase demanded by the striking workers really isn?t much more than the inflation rate," says TIME South Africa bureau chief Peter Hawthorne. "The government may be forced to compromise and tighten the belt in other areas, such as military expenditure." Absent the moral authority of retired president Nelson Mandela, Mbeki may find it difficult to resolve the mounting tide of labor conflicts and avert major...
Having heard from the Fed exactly what they expected to ?- that creeping inflation pressures necessitated a rate hike of a quarter-point (25 BASYS points) but no nudge in the now-neutral bias -? the markets may now exhale, slump a little, and get back to fundamentals. "The good news is that Greenspan remains ahead of the curve, acting promptly to hold down inflation just like he said he would," says TIME senior economics reporter Bernard Baumohl. "But the markets had their rally Monday ?- and most of the time it?s ?buy on the rumor, sell on the news...
...RATE MORTGAGE With mortgage rates now topping 8%, potential home-buyers might consider the unconventional: a 30-year loan with an adjustable rate that can only go down. Two lenders, www.servicesavers.com and, in Western states, www.citylinemortgage.com will notify you when prevailing rates drop as little as a quarter to half a point and will automatically refinance your mortgage. Sticking with the same company means you pay no hefty closing costs. You shell out for the new title at City Line and pay zip at Service Savers. To qualify, you need to make timely mortgage payments...
...nest of gamblers, Wall Street can take a while to place its bets. But when it does... Nearly a full week after a tame inflation report made it apparent that the Fed would raise rates once, and just once, when it meets this Tuesday, the markets finally got used to the idea on Monday. The Dow came charging out of the gate to steam up more than 130 points, and after a midafternoon lull sprinted through the tape at 199.15 ? well into record territory. And all this on the eve of a rate hike? Welcome to the "discount" rally...