Word: baumohl
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...Bernard Baumohl...
...With reporting by Bernard Baumohl and Carole Buia/New York, Colette McKenna Parker/Atlanta and Leslie Whitaker/Chicago
...TIME senior economics reporter Bernard Baumohl doesn't see any signs that Greenspan got any more than he bargained for. "The markets are having a little panic about how much this slowdown will affect earnings," he said (although investors warmed up again in the afternoon when Greenspan announced that technology -- gasp! -- was good for productivity). "But right now, it doesn't look like any more than the soft landing, from 5 percent growth to about 3.5 percent, that the Fed has been trying to engineer." In fact, says Baumohl, there are some on the Fed's Open Market Committee...
...Right now, I don't think the Fed will raise again," says TIME senior economics reporter Bernard Baumohl. "But the markets can always find a reason for uncertainty." Indeed, as more and more readings indicate that Cap'n Greenspan's economy is touching down softly and inflation-free, the narrower the range of possibilities in those feverish little investor brains. He could stand pat. He could hike by a quarter-point this month so as to beat election-season, when coaxing up unemployment for the good of the country gets politically tricky. But that'd be about...
...long season of economic overdrive, interest-rate hikes, and neurotic markets drawing to a close. "This is the latest sign that the economy is slowing down, and because these are labor numbers, they're going to have particular weight with the Fed," says TIME senior economics reporter Bernard Baumohl. "This is the kind of news that could take some of the uncertainty out of the markets and get stocks going up again...