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Economic Expansion

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By Kim Clark and Kim Clark,Sun Staff Writer | April 8, 1995
The unemployment rate in Maryland fell in February to a seasonally adjusted 4.7 percent from 4.9 percent as the state enjoyed a widespread economic expansion.Economists said the report reflected continuing strength in the state's economy because midwinter is typically slow, and this February was much stronger than last year's.For example, the average workweek rose to 41.3 hours in February, up from 38.6 hours in the same period of 1994."The state is on track for moderate growth," for the next several months at least, said Paul Lande, a regional economist with the Johns Hopkins University's Institute for Policy Studies.
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NEWS
January 29, 2003
A YEAR AGO, in his first State of the Union address, President Bush offered a one-word solution to America's economic problems: jobs. He followed with tax cuts of historic proportions. And indeed, the economy grew at a decent clip - all the while shedding so many jobs that the unemployment rate is now at an eight-year high. Last night, Mr. Bush opened his second such speech by peddling his new economic plan based on the same old supply-side elixir of tax cuts driving growth - a plan with only one certain economic impact: ballooning federal budget deficits for the foreseeable future.
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NEWS
By William Patalon III and William Patalon III,SUN STAFF | January 5, 2000
Federal Reserve Chairman Alan Greenspan, whose disciplined approach to monetary policy has helped the nation enjoy near-record expansion, was nominated yesterday by President Clinton to a fourth term as head of the nation's central bank. The move, though expected, was nevertheless a welcome one to the financial community, which has come to depend on Greenspan's ability to use interest rates as a throttle and brake to keep the economy from moving too quickly or too slowly. President Clinton said as much in commenting on the reappointment.
NEWS
By Paul West and Paul West,SUN NATIONAL STAFF | January 19, 2001
WASHINGTON - President Clinton said farewell to the nation last night by expressing his profound gratitude for being allowed to serve for the past eight years and warning his successors not to turn away from America's responsibility to project leadership around the world. In an emotion-free Oval Office speech, broadcast live by most major networks, Clinton characterized himself as a president who had led America into the "global information age" and cataloged the accomplishments of his administration in strengthening the country's neighborhoods and families.
BUSINESS
By BLOOMBERG NEWS | July 6, 2000
NEW YORK - Developing nations need to focus their economic development programs on increasing trade and improving health and education, U.S. Treasury Secretary Lawrence Summers said yesterday. "Successful national economic development depends above all on the promotion of markets, and the institutions and policies that are needed for markets to function well," Summers said in a speech to the United Nations Economic and Social Council, where a three-day conference on information technology is being held.
BUSINESS
By BLOOMBERG NEWS | February 24, 1999
WASHINGTON -- The U.S. economy continues to expand at a "surprisingly robust" pace with no evidence of inflation, Federal Reserve Chairman Alan Greenspan said yesterday, though he said the central bank is prepared to quickly raise or lower interest rates if "imbalances and distortions" in the economy develop."
NEWS
By William Patalon III and William Patalon III,Sun Staff | February 3, 2000
Federal Reserve policy-makers, concerned that a shortage of workers and a scorching economy will touch off inflation, raised a key interest rate a quarter-point to 5.75 percent yesterday -- an action that was anticipated and that economists believe presages further rate increases to keep the record economic expansion humming. "I think this is the right thing to do to prolong growth in an economic expansion that's now 107 months old," said Philip J. Schettewi, senior managing director of Newark, N.J.-based Prudential Global Asset Management, which oversees $100 billion.
NEWS
February 2, 1996
GET READY for a series of election-year cuts in interest rates by the Federal Reserve Board. The first came Wednesday. And with the economy weaker than the nation's central bankers expected, there could be more. For President Clinton, who proclaimed the economy is "the healthiest in three decades" during his State of the Union address, lower rates can't come fast enough.During the 1992 presidential election year, Fed chairman Alan Greenspan dropped the key federal funds rate three times (once by a full half a point)
NEWS
January 29, 2003
A YEAR AGO, in his first State of the Union address, President Bush offered a one-word solution to America's economic problems: jobs. He followed with tax cuts of historic proportions. And indeed, the economy grew at a decent clip - all the while shedding so many jobs that the unemployment rate is now at an eight-year high. Last night, Mr. Bush opened his second such speech by peddling his new economic plan based on the same old supply-side elixir of tax cuts driving growth - a plan with only one certain economic impact: ballooning federal budget deficits for the foreseeable future.
NEWS
By New York Times News Service | May 8, 1994
WASHINGTON -- After a year and a half of seeking fastereconomic growth, the Clinton administration has now reluctantly changed course, putting the stability of financial markets ahead of rapid economic expansion.No longer do administration officials promote low interest rates and a falling dollar. The economy's health, coupled with the political uncertainties that have led an already weak dollar to sag further, has driven the administration to abandon those early policies.The forces driving the shift became clearer in the last week, as the dollar's slump forced 16 countries to come to its rescue on Wednesday.
NEWS
By Robert Little and Robert Little,SUN STAFF | December 6, 2000
Wall Street traders drove the battered Nasdaq stock index to a record 10.4 percent gain yesterday after Federal Reserve Chairman Alan Greenspan, acknowledging that the economy was weakening, signaled that the central bank was on the brink of cutting interest rates for the first time in two years. Blue chip stocks also rose sharply. Greenspan told a late-morning banking conference that the nation's blazing economy has "moderated appreciably" and hinted that the Fed was ready to act to stave off a recession.
BUSINESS
By BLOOMBERG NEWS | July 6, 2000
NEW YORK - Developing nations need to focus their economic development programs on increasing trade and improving health and education, U.S. Treasury Secretary Lawrence Summers said yesterday. "Successful national economic development depends above all on the promotion of markets, and the institutions and policies that are needed for markets to function well," Summers said in a speech to the United Nations Economic and Social Council, where a three-day conference on information technology is being held.
NEWS
By William Patalon III and William Patalon III,Sun Staff | February 3, 2000
Federal Reserve policy-makers, concerned that a shortage of workers and a scorching economy will touch off inflation, raised a key interest rate a quarter-point to 5.75 percent yesterday -- an action that was anticipated and that economists believe presages further rate increases to keep the record economic expansion humming. "I think this is the right thing to do to prolong growth in an economic expansion that's now 107 months old," said Philip J. Schettewi, senior managing director of Newark, N.J.-based Prudential Global Asset Management, which oversees $100 billion.
BUSINESS
By Kristine Henry and Bill Atkinson and Kristine Henry and Bill Atkinson,SUN STAFF | January 30, 2000
Ruth Nophlin doesn't need Alan Greenspan to tell her about the economy. She has lived it. In four years, the 43-year-old Northeast Baltimore woman has gone from being thrown out of a job when London Fog moved its manufacturing operations overseas to taking computer classes to working as an office supervisor for a Towson technical training company. Now, she has more work than she can handle and earns more money than she ever has. Part of the credit for her recovery goes to Nophlin's resilience.
NEWS
By William Patalon III and William Patalon III,SUN STAFF | January 5, 2000
Federal Reserve Chairman Alan Greenspan, whose disciplined approach to monetary policy has helped the nation enjoy near-record expansion, was nominated yesterday by President Clinton to a fourth term as head of the nation's central bank. The move, though expected, was nevertheless a welcome one to the financial community, which has come to depend on Greenspan's ability to use interest rates as a throttle and brake to keep the economy from moving too quickly or too slowly. President Clinton said as much in commenting on the reappointment.
BUSINESS
By BLOOMBERG NEWS | August 28, 1999
WASHINGTON -- U.S. personal incomes rose for the seventh straight month in July, enabling consumer spending to keep growing and push the economy toward its longest expansion ever, government figures showed yesterday.Incomes grew 0.2 percent in July after rising 0.7 percent in June, the Commerce Department said. Spending rose 0.4 percent after a gain of 0.3 percent a month earlier.The July increase in income was the smallest since the end of last year because federal disaster payments had swollen farmer income in June.
NEWS
By Robert Little and Robert Little,SUN STAFF | December 6, 2000
Wall Street traders drove the battered Nasdaq stock index to a record 10.4 percent gain yesterday after Federal Reserve Chairman Alan Greenspan, acknowledging that the economy was weakening, signaled that the central bank was on the brink of cutting interest rates for the first time in two years. Blue chip stocks also rose sharply. Greenspan told a late-morning banking conference that the nation's blazing economy has "moderated appreciably" and hinted that the Fed was ready to act to stave off a recession.
BUSINESS
By Jonathan Weisman and Jonathan Weisman,SUN NATIONAL STAFF | June 18, 1999
WASHINGTON -- With only faint wisps of economic trouble on the horizon, much of President Clinton's economic team is heading for the exits this summer, leaving White House aides with the delicate task of finding replacements who can keep the good times rolling -- at least through the 2000 election cycle.Treasury Secretary Robert E. Rubin will be stepping down soon, as will the president's three-member Council of Economic Advisers, including its chairman, University of California economist Janet Yellen.
BUSINESS
By Jonathan Weisman and Jonathan Weisman,SUN NATIONAL STAFF | June 18, 1999
WASHINGTON -- With only faint wisps of economic trouble on the horizon, much of President Clinton's economic team is heading for the exits this summer, leaving White House aides with the delicate task of finding replacements who can keep the good times rolling -- at least through the 2000 election cycle.Treasury Secretary Robert E. Rubin will be stepping down soon, as will the president's three-member Council of Economic Advisers, including its chairman, University of California economist Janet Yellen.
BUSINESS
By BLOOMBERG NEWS | February 24, 1999
WASHINGTON -- The U.S. economy continues to expand at a "surprisingly robust" pace with no evidence of inflation, Federal Reserve Chairman Alan Greenspan said yesterday, though he said the central bank is prepared to quickly raise or lower interest rates if "imbalances and distortions" in the economy develop."
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