Word: slowdown
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...from below 6% in mid-March. In his view, the tight U.S. labor market will give inflation a nudge that the Federal Reserve will try to combat by raising interest rates. (Sinai, in contrast, predicts the Fed will cut rates slightly to prevent a too steep economic slowdown...
That is not a minor hit. It would mean gross domestic product's increasing considerably less than the robust 3% or so that it might otherwise have managed, unemployment's rising a bit rather than sinking to still further lows, and a distinct slowdown in corporate profits--especially among companies that had been exporting $300 billion or more a year to the Asian region. On the other hand, sagging demand from Asia is contributing to a worldwide deflation (a term rarely heard since the 1930s) in commodity prices, especially oil. And that is helping to douse what little inflationary fire...
Economists who once cavalierly pronounced that an Asian slowdown might even be good for the U.S.--it would help hold down inflation--are now slashing their 1998 growth forecasts and fretting about possible deflation, the broad and sustained decline of prices for everything from semiconductors to semigloss. Most agree that the growth of the gross domestic product this year, because of Asia's problems, will be a half to a full percentage point lower than earlier forecasts--in real numbers, roughly 2.5% instead of the 3% or 3.5% that was talked about last year. Meanwhile, as scores of companies prepare...
...merits of that no-b.s. culture became clear as the world around Intel began to crack. Starting in 1976, the firm sailed into one iceberg after another: weak demand for memory chips, factory problems, ruthless Japanese "dumping." In 1981, when Intel steamed into yet another exhausting chip slowdown, Grove decided that instead of laying off employees he'd order Intel's staff to work 25% harder--two hours a day, every day, for free. The "125% solution" turned Santa Clara into a sweatshop (a few particularly dyspeptic engineers took to wearing sweatbands to highlight the point), but Grove...
...they will sell, how soon and at what price. One obvious problem is Asia. Tech companies were doing a lot of business there before the region's economies imploded. Intel, for example, has been getting 28% of its annual revenue there and will surely feel a sting from the slowdown...