Word: benzake
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Dates: during 1995-1995
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Such attempts at fine-tuning worry many economists, who fear the Fed may ignore weakening conditions and spoil the four-year-old recovery. "We are right now at the inflection point in the economy," says William Spears, managing director of Spears, Benzak, Salomon & Farrell, a New York City investment firm. "Most of the growth in this business cycle is behind us. Fed policy will have an important bearing on how the economy pans out the rest of the year." Concurs Robert Brusca, chief economist for Nikko Securities: "It looks, smells and tastes like a slowdown. Common sense should reinforce this...