Word: straszheim
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Dates: during 1990-1999
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Experts saw the Friday free fall as part of a long-overdue correction. But the most consoling, if perverse, thought for market watchers like Donald Straszheim, chief economist for Merrill Lynch, is that the employment surge may have been a statistical illusion. Says he: "We have never had an economy that created jobs like that. Those numbers are implausible." In other words, the good news may not have been so bad after...
...presidential election. Most worrisome has been the prospect of an extremely sluggish economic recovery and the apparent decision by the Federal Reserve Board not to cut interest rates any further. "The market is suffering from a bad case of high anxiety due to all the uncertainty," says Donald Straszheim, chief economist at Merrill Lynch. "After all," he quips, "it's October...
...argue that the current slowdown already merits the title of recession. The pessimists gained a measure of support last week from a Federal Reserve report that noted that economic growth "was slow or had slackened" in June and July. "The textbook definition of recession doesn't matter," says Donald Straszheim, chief economist for Merrill Lynch. "The economy is so weak that it looks like a recession to an awful lot of people." Declares Rose Marie Moore, who was recently laid off from a Massachusetts textile mill: "I'm nervous and scared. I've had my job for 10 years...