The ending of empire

Two of the world's most powerful jobs are up for grabs - and America has the jitters.

Hint of US rate rise puts shares in a spin

SHARES IN New York and London went into a tailspin yesterday as the first signs emerged of higher inflation and interest rates in the United States.

Outlook: Wall Street

Outlook: Wall Street

Will the hi-tech bubble burst?

Are booming industries more vulnerable to a slow-down? The answer would seem to be yes

Fed set to `nip inflation in bud', warns Greenspan

ALAN GREENSPAN warned yesterday that the US Federal Reserve would act "promptly and forcefully" to nip inflation in the bud.

Outlook: Alan Greenspan

SINCE ALAN Greenspan first referred to "irrational exuberance" in December 1996, the Dow has risen by nearly 80 per cent. The Fed chairman had another go yesterday, politely suggesting the elevated level of share prices in the US was "unwarranted" and perhaps even "euphoric".

Greenspan hints at rates rise as US booms

ALAN GREENSPAN, the chairman of the US Federal Reserve Board, signalled that a further increase in US interest rates is likely with the economy expanding at an "unsustainable" pace. Increases in productivity had made 1999 an exceptional year for the American economy, he said, but the Fed stood ready to pre-empt inflationary pressures.

Right of Reply: Haruko Fukuda

RECENT WEEKS have seen much argument over the UK Government's decision to sell more than half of the country's gold stocks. Your editorial of 6 July introduced an interesting new twist in arguing that the substitution of paper money for gold is an example of democratisation. I disagree.

Outlook: Hubble bubble

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US set for rates rise to head off inflation

THE US Federal Reserve is this week expected to raise interest rates, marking a watershed in US economic policy and reversing the downward trend of the last four years.

Dow falls below 10,500

US SHARE prices fell sharply yesterday as investors' nerves got the better of them ahead of next week's crucial meeting of the Federal Reserve.

Outlook: Stock markets

AT THE beginning of last month, this column advised a "sell in May and go away" stance on equities. Since then shares have fallen quite sharply on Wall Street and then rebounded again. This week's sensationally good inflation figures from the US seem to confirm that there is no stopping this long bull market. Once again the bears are made to look foolish. Even Alan Greenspan, chairman of the US Federal Reserve, now suggests no more than a gentle tug on the tiller - "modest pre emptive action" - is required to prevent a resurgence of inflationary pressures in the soaraway US economy.

Greenspan hints at pre-emptive rate rise

THE US Federal Reserve may need to raise interest rates before any sign that inflation is returning to the economy, Alan Greenspan said yesterday.

Dow and Nasdaq soar on stable US consumer prices

US FINANCIAL markets shot up yesterday after a report of flat inflation softened the outlook for monetary policy.

New technology `boosting US'

ALAN GREENSPAN, the US Federal Reserve chairman (pictured), said yesterday that business investment in new technology is boosting US productivity and keeping a rein on inflation. However, he cautioned that the benefits from technological developments might be short-lived.
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