Raise Rates

NEW YORK -- U.S. stocks tumbled yesterday as reports signaling a robust economy stirred concern that rising interest rates will choke profit growth and entice more money into higher-yielding Treasury securities."

One day an economic forecast is released that sparks fear that inflation is accelerating, which in turn sends the stock market zooming downward.Less than a week later, another set of government numbers are released that indicate inflation isn't as strong as we thought. Down go the fears and up goes the market.Ah, but those in the know are still wary of the Federal Reserve Board. Will it raise rates again when it meets in May or do nothing?What does it all mean to a consumer in the market for the best mortgage he or she can find?

One day an economic forecast is released that sparks fear that inflation is accelerating, which in turn sends the stock market zooming downward.Less than a week later, another set of government numbers are released that indicate inflation isn't as strong as we thought. Down go the fears and up goes the market.Ah, but those in the know are still wary of the Federal Reserve Board. Will it raise rates again when it meets in May or do nothing?What does it all mean to a consumer in the market for the best mortgage he or she can find?

WASHINGTON -- The president, the Senate and everyone with a greenback in his wallet has concluded that Alan Greenspan is as cute as a little red wagon and deserves a fourth four-year term as head of the Federal Reserve Board. The apotheosis of this central banker, in the record-setting 107th month of the uninterrupted economic expansion, accords with the public's hunch during this presidential season: Politics today is only marginally related to social betterment. Recently the Fed has several times raised interest rates.

Three reports last week indicated the U.S. economy is continuing its strong growth despite five interest-rate boosts since June by the Federal Reserve. The Index of Leading Economic Indicators, designed to predict economic activity three to six months ahead, rose 0.1 percent in March, after a 0.3 percent drop in February. A forecast from the National Association of Purchasing Management said the manufacturing industry will continue to prosper, with companies looking for a 5.9 percent increase in revenue over last year.

NEW YORK -- U.S. stocks surrendered most of Wednesday's gains yesterday amid concern that the bond market rally might have peaked and interest rates might be poised to rise.The Dow Jones industrial average, which fell as much as 16.21 to 3,617.44 yesterday, closed down 2.80 at 3,630.85. Wednesday, the average gained 17.89. The Dow now sits close to its record close of 3,652.09, set Aug. 25."Most of the decline in interest rates is about over, for now," said Peter Da Puzzo, senior managing director at Cantor, Fitzgerald & Co.Yesterday's decline was led by the stocks that advanced the most Wednesday, including oil and telephone shares.

Wall Street has been fretting that new signs of rising prices may drive the Federal Reserve to boost interest rates again today. But if America has an inflation problem, you can't find it by visiting your nearest car dealer."

NEW YORK -- Stock prices closed lower yesterday for a second straight session, as the market was buffeted by confusion over the direction of interest rates."

At the end of October, Upper Chesapeake Health closed the antiquated Fallston General Hospital and opened the Upper Chesapeake Medical Center in Bel Air. The new facility, in a convenient and rapidly growing part of Harford County, immediately attracted more patients than the old Fallston facility, as hospital management had expected - about 25 percent more admissions in the new hospital's first four months. What they hadn't expected was that Upper Chesapeake would start losing money and that the more patients came, the more it would lose.

WITH THE juggernaut U.S. economy -- which Tuesday set a record for the longest expansion ever -- showing no signs of losing steam, a slowdown of any kind, let alone a recession, is near-unthinkable. Consumer confidence is at record levels. Many workers are bettering their stations in life by changing jobs with nice raises. And the stock market has made Americans -- who in the early 1990s were economizing and flocking to cheap "private label" products in discount stores -- feel as if they can afford luxuries like that sport utility vehicle or move-up dream house.