This message is in MIME format. Since your mail reader does not understand this format, some or all of this message may not be legible. ------ =_NextPart_000_01BDB63A.300F96E0 charset="iso-8859-1" BLS DAILY REPORT, WEDNESDAY, JULY 22, 1998 Federal Reserve Chairman Alan Greenspan says that the Asian crisis is slowing U.S. economic growth, but by how much is unclear, and the risk of a pickup in inflation still outweighs the danger of a slump. In testimony before the Senate Banking Committee, Greenspan said the central bank might at some point need to raise short-term interest rates to make sure inflation stays low.... Fed policymakers think slower growth won't prevent a modest acceleration of inflation from 2 percent or less this year to 2.5 percent next year. Unemployment at the end of next year would still be between 4.5 and 4.75 percent, according to these forecasts.... (Washington Post, page C9)_____Greenspan said the Fed would have to be "particularly alert" to the possibility that a renewed surge in growth could set off a destabilizing spiral of wage and price increases.... (New York Times, page D1)_____Greenspan said the Fed is worried more about an outbreak of inflation than an Asia induced recession, but his carefully balanced congressional testimony suggested the Fed is unlikely to make any interest rate move soon.... (Wall Street Journal, page A2) Housing starts rose 5.6 percent in June, the first increase in four months. Analysts said the increase was unexpectedly large and reflected a combination of low mortgage rates, consumer optimism, and a stable job market.... (New York Times, page D3; Wall Street Journal, page A2). The 2.6 million members of the high school class of 1998 may represent the most wanted group of high school students ever-at least until next year, says The Wall Street Journal (page A1). To hire students, companies are entering the classroom in unprecedented ways and numbers. In the 18 months ended in June 1997, the number of partnerships between high schools and businesses jumped 270 percent, to 1,087, in 45 states surveyed by the federal school-to-work office in Washington, D.C. Across the United States, school districts that at one time had to beg businesses to make a classroom appearance, now find the phones ringing nonstop.... Employer interest in high school students is peaking just as many educators are losing patience with the longstanding philosophy of treating all students as potential college material.... 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[PEN-L:258] BLS Daily Report
Richardson_D Thu, 23 Jul 1998 09:04:15 -0400boundary="---- =_NextPart_000_01BDB63A.300F96E0"