Get smart about inflation. (interest rates and the economy)

Washington Monthly | May 1, 1994| | Copyright

For a moment this spring, madness was rampant. Whitewater crowded health care and education off the front pages; Barry Goldwater told the Republicans to get off Clinton's back; John Bobbitt announced he's marrying again. Most important, the Federal Reserve and Wall Street went bananas as rising interest rates sent the stock and bond markets on a roller coaster ride."Dow Falls 72 Points Amid Market Fears" screamed a March 30 headline in the Los Angeles Times. The subhead? "Seventh drop in eight days puts average 300 below where it stood two weeks ago. Investors are worried by ...

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