Word: yardeni
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Dates: during 1990-1999
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...leading economists to assess the 1994 outlook, there was not a Cassandra among them: they foresaw the strongest U.S. growth since the late 1980s combined with continued low inflation and gradually falling unemployment. "I describe my forecast as 'the best of all possible worlds,' " said a buoyant Edward Yardeni, chief economist for the investment firm C.J. Lawrence...
...House largely by bashing Bush's feeble economic policies, some experts warn against trying to jump-start growth next year if business really is improving. "The worst thing they could do would be to stimulate the economy just as it seems to be growing all by itself," says Edward Yardeni, chief economist for the Wall Street firm C.J. Lawrence. "That would create concerns about overheating the economy" and could reignite an inflation rate that is now in the low 3% range. Last week the Commerce Department provided evidence that the recovery may be gaining momentum: its report said retail sales...
...bleak words did not go over well among business leaders. Ed Yardeni, a New York City economist, immediately sent out a fax to his clients: "Will someone please remind this guy that he is Chairman of the Federal Reserve Board of Governors! Send him some antidepressants. Consumers are frightened enough without hearing all this depressing talk from Mr. Greenspan." Urged Yardeni: "Let's have a full-point cut in the discount rate today!" The message evidently got through. Late in the week Greenspan turned Santa Claus. He lowered the discount rate, which is what banks are charged for borrowing money...
...overhang of poor-quality loans from the 1980s and new challenges in all the bread-and-butter businesses, banks have lost their financial edge -- and then some. "The nonbank companies have smelled blood in the banking system, and they have moved in to gain market share," says Edward Yardeni, chief economist for the Wall Street firm C.J. Lawrence. "To survive, the banks are going to have to restructure, repair their balance sheets and drop in number closer to 5,000 by the end of the decade." The banks that remain, the strong and progressive ones, will be the better...