Word: rates
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...occurring in a vacuum, says Samuel Casey Carter, a senior fellow at the nonprofit Center for Education Reform. "For more than 30 years, the Catholic Church has been supporting the public-school system, educating children that many said were uneducable," Carter says. "When these schools are closing at [a rate of] 100 to 200 a year, no matter how small they are, that ends up putting a massive burden on an already burdened public-school infrastructure." As he sees it, urban Catholic-school closures dump students back into a system that is ill-prepared to educate them, a system that...
...exploring a major demographic shift that is attracting remarkably little attention - the flight of white residents from cities and integrated suburbs into cloistered, racially homogeneous enclaves. Tidy communities such as St. George, Utah, and Coeur d'Alene, Idaho - places Benjamin calls Whitopias - have grown at triple the rate of America's cities in recent years, raising troubling questions about the country's multiracial cohesion. The Stanford literature Ph.D. chronicled his adventure in a new book, Searching for Whitopia: An Improbable Journey to the Heart of White America, and spoke with TIME about what he found. (Read "Resisting School Integration...
Three days after the Reserve Bank of Australia unexpectedly raised interest rates, the monetary policy committee of South Korea's central bank held a meeting. The Oct. 9 gathering was closely followed because the Australian move raised expectations that other central banks would also tighten. Korea held the line. Citing "uncertainty as to the economic growth path," the Bank of Korea kept interest rates at an ultra-low 2%, the result of six rate cuts over the past year...
...Most will raise rates - but one very conspicuous central bank is unlikely to follow suit. With the U.S. jobless rate at 9.8% and still rising, the U.S. Federal Reserve cannot risk a rate increase anytime soon, despite the danger of inflation. Raising rates would add to the burden on U.S. businesses, particularly small- and medium-size enterprises that account for the majority of U.S. jobs. Higher rates would also make mortgages, credit-card debt and other forms of personal financing more expensive, further crimping consumer spending, which accounts for the bulk...
...inability of the Fed to raise rates along with the rest of the world is more bad news for the flagging dollar, and investors everywhere should pay attention. It now makes more sense to get out of the greenback and park money in higher-yielding currencies, since foreign-currency deposits will earn more in interest and could make additional foreign-exchange gains. Interest rates in Australia last week were raised a quarter point to 3.25%, and could go higher still. The unemployment rate Down Under recently fell to 5.7%, leading economists to expect another rate rise on Nov. 3. Meanwhile...