Word: greenbacks
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Dates: during 2000-2009
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...much as they used to). As for the larger economy, one of the bones of contention between Greenspan and the first Bush was that Bush's Treasury people thought the Fed chairman should be jawboning the economy, and Greenspan thought that was silly, and it's doubtful Father Greenback is worried about young Mr. Bush making the recession happen with a few holiday hints about being prepared for the worst...
What has happened is the exact opposite. Far from becoming dangerously weak, the dollar, if anything, may be a bit too strong. So far this year it has risen about 6% on average against the currencies of the 19 most important U.S. trading partners. In May the greenback hit a four-year high against the British pound, while the euro, introduced 17 months earlier at a price of $1.17, fell briefly below 90[cents...
...greenback form, George Washington, Andrew Jackson and Benjamin Franklin will make their way from the fists of graduates to the Student Loan Office. With an average debt of $14,487, Class of 2000 graduates who took student loans could spend the next 10 years paying Harvard back...
...raise short-term rates not just 25 but 50 basis points at its meeting Tuesday, the latest attempt to hamstring the swaggering U.S. economy just enough to keep inflation at bay. Businesses, especially capital-intensive ones like the dot-coms, have no love of more expensive money. But Father Greenback has sold the markets on his firm hand, says TIME senior economics reporter Bernard Baumohl, and a full half-point hike was the only way for Greenspan to reward that confidence now. "The markets were worried for a moment that the Fed was behind the curve, but Greenspan realizes that...