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...championed for years. "Three years ago," recalls former Fed vice chairman Alice Rivlin, "some [FOMC] members were worried about the economy overheating. But I wasn't, and neither was Greenspan." Both argued that technology was making workers more productive and stifling inflation. The FOMC thus opted for a string of small rate hikes that became a hallmark of Greenspan's cautious approach to monetary policy...

Author: /time Magazine | Title: Who's Raising Your Rates? | 5/29/2000 | See Source »

...Stocks. Get real about how fast they will rise. As rates go up, investors are more inclined to own interest-paying investments. And higher rates put the squeeze on corporate profits, making stocks less desirable. The recent string of 20% gains a year for the average stock is probably over. Look for something closer to the historical 11% and possibly even less than that to make up for five off-the-chart years from...

Author: /time Magazine | Title: How To Beat The Fed At Its Own Game | 5/29/2000 | See Source »

...absence of a peace deal with Syria - which Barak had hoped would rein in Hezbollah - Israel had hoped that its Lebanese allies would hold their own long enough to string a line of U.N. peacekeepers between the guerrillas and the Israeli border. But the instantaneous collapse of the South Lebanon Army has rendered that impossible, even in the unlikely event that the U.N. force, whose role in Lebanon has never been more than that of spectators, had been willing to insert itself between two armies who have reached no peace agreement. That leaves Israel's northernmost population centers vulnerable...

Author: /time Magazine | Title: Why Lebanon Retreat May Force Israel-Syria Talks | 5/24/2000 | See Source »

...latest play is running successfully on Broadway. A string of first-rate revivals has, in recent years, burnished a glowing reputation. There's even a new opera based on one of his tragedies that has a shot at entering the modern repertory. Alone of his theatrical generation, Arthur Miller, at 84, remains a living, vital force on our stages...

Author: /time Magazine | Title: Theater: Good Luck | 5/22/2000 | See Source »

Rootin', tootin', acquisition-mad MCI Worldcom chief Bernard Ebbers may have finally met his match: the antitrust boys at the Justice Department. Ebbers' proposed $130 billion hookup with Sprint - the latest in a spectacular string of acquisitions by the southern-fried CEO - would be one of the largest corporate mergers ever, a joining of the No. 2 and No. 3 long-distance carriers that posed a serious threat to leader AT&T. But now Justice staffers have formally recommended to head trustbuster Joel Klein that the merger be blocked, on the grounds that a company with one third...

Author: /time Magazine | Title: Why Less Is More for MCI Worldcom's Sprint Deal | 5/18/2000 | See Source »

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