Word: hike
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...sense, last week's stiff interest-rate hike by the Federal Reserve's little known Federal Open Market Committee was a no-brainer, given the still sizzling growth of the U.S. economy. But in another sense, the panel's increase in the so-called federal-funds rate from 6% to 6.5% marked a spectacular wager on your future, with your money, by 10 unelected and largely unknown officials operating behind closed doors. By raising the rate that underpins most other borrowing costs to its highest level in nine years, the committee is hoping--make that praying--to cool the economy...
...Week in the Life of a High School" (Oct. 25, 1999), school officials were anxiously plotting to put a tax increase and a new $10 million bond levy before the town's voters this spring. Altogether, the two measures, earmarked to pay for building repairs and a teacher-salary hike, would add $290 to the annual tax bill of a $144,000 home. Last month both issues passed--58% approved the tax increase, and 62% voted yes on the new bonds (which, under Missouri law, require a supermajority of 57.1% to pass). In a year when education issues have been...
...after a wild week and tentative heading into a holiday, investors are nonetheless armed with some of the news they've been waiting for: The economy is cooling off and Alan Greenspan might be too. After hearing Thursday that rising mortgage rates were finally cutting into home sales, rate-hike-weary investors got more good news Friday: Orders for durable goods like refrigerators and airplanes, which tend to rise when people are feeling wealthy enough for big-ticket purchases, dropped precipitously in April, with savings on the rise. Investors' message to the Fed: OK, Alan, you can stop...
...future, they said, and the future is always bright for geeks. Now, two months and a staggering 37 percent later, NASDAQ is the wisp in the Fed's wind. Tuesday, week-old worries about another interest rate raise in the wake of last week's half-percent hike comments hit the Dow for 120 and the NASDAQ for 200 (to 3164, low for the year), a disproportion that is becoming old hat for index watchers...
...took the Dow down more than 250 points before both markets recovered in late-afternoon trading - the Dow finishing down 84 points down and the Nasdaq shedding 26.2 points. While analysts struggled to pinpoint a precise reason for the market's stormy Monday, the specter of more interest-rate hikes was a recurring theme, particularly in light of record trade-deficit figures released last week that signaled the economy is still expanding at a pace that has Fed chairman Greenspan nervous. "The dominant view had been to expect a further one-quarter percent rate hike in June...