posted 06-15-2000 06:14 PM         

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U.S. industrial production rose more than expected in May, the Federal Reserve said, reflecting robust consumer demand for American-made goods -- even as interest rates continued to rise. (source: CNNfn) http://cnnfn.com/2000/06/15/economy/economy/

In brief:

- The number of Americans filing new claims for unemployment benefits fell to 296,000 for the week ended June 10 from a revised 312,000 in the prior week, the U.S. Department of Labor said.

posted 06-14-2000 09:00 AM         

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I just noticed that yesterday was the five-year anniversary of the President's ten-year plan to to balance the Federal budget. At the time, he promised to cut spending by $1.1 trillion.

Now that we are halfway through the ten years, anyone know the current status or how it is doing?

posted 06-13-2000 06:20 PM         

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American shoppers curbed their spending in May, sending retail sales nationwide down by a bigger-than-expected 0.3% marking the second month in a row in which retail sales have fallen. (source: Washington Post) http://washingtonpost.com/wp-dyn/articles/A48286-2000Jun13.html

There is growing evidence that U.S. productivity is expanding, Federal Reserve Chairman Alan Greenspan said in a speech that gave no clues about the future course of U.S. interest rates. (source: MSNBC) http://msnbc.com/news/420088.asp

posted 06-13-2000 10:36 AM         

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I think this is how some investors are probably feeling. I think the Fed has everyone scared and there is enough news out there to make people very concerned about a crash landing for the economy. I mean, retail numbers are much lower than expected, something which you would expect to boost the markets. BUT, investors are now hearing all these earnings warnings and beginning to take them to heart. And, on top of that, the Fed still might act in two weeks, raising another 25 points. So, not only is the earnings picture darkening, the Fed is still looming.

My hope is that the fact that the numbers are not leading to an equity surge will convince the Fed to rest for a month and see what the numbers say come August.

posted 06-12-2000 06:10 PM         

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The longest U.S. economic expansion, now in its 10th year, has peaked as business and consumers begin to feel the effects of a battery of interest rate hikes by the Federal Reserve, a research group found. (source: Wired) http://wired.com/news/business/0,1367,36929,00.html

Joe Battapaglia argues that there remains no credible evidence an inflation problem exists and recent data on price levels continues to support this. (source: MarketWatch) http://www.marketwatch.com/news/current/battipaglia.htx

posted 06-08-2000 06:02 PM         

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In brief:

- The number of Americans filing new claims for unemployment benefits rose to 309,000 in the week ended June 3 from a revised 289,000 the prior week. The claims were the highest since the 310,000 reported for the Jan. 8 week.

- The European Central Bank raised its key interest rates today by a larger-than-expected half percentage point, its fourth interest rate hike this year.

posted 06-06-2000 06:09 PM         

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Americans' productivity, a key to future prosperity, slowed to an annual growth rate of 2.4%in the first three months of this year, the government reported today. (source: Washington Post) http://washingtonpost.com/wp-dyn/articles/A6087-2000Jun6.html

According to MarketWatch's Paul Erdman, a series of factors will allow America's unprecedented economic expansion to continue into the future. (source: MarketWatch) http://www.marketwatch.com/news/current/erdman.htx

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