West Virginia GSP Edges Higher Despite Slow 1996 97 Growth
West Virginia's latest gross state product estimate shows slow growth for 1996 to 1997 but remains on pace with the nation over seven years. Economist George Hammond notes one year does not indicate a trend as diversification reduces swings and real GSP growth matches 2.7 percent for the period, placing WV 33rd among states.
MENTIONED IN THIS ARTICLE
West Virginia
George Hammond
West Virginia University
Bureau of Business and Economic Research
Federal Bureau of Economic Analysis
Hammond
District of Columbia
Inflation tame tat Americans spend at non stop speed
Inflation cooled at the wholesale level in May with a 0.2 percent rise in the Producer Price Index as gasoline prices declined after a prior spike. Retail sales surged 1 percent led by autos, with total sales up 7.8 percent from May last year, signaling strong consumer demand and possible Fed rate hikes.
MENTIONED IN THIS ARTICLE
J Fashington
Labor Department
Commerce Department
Oscar Gonzalez
John Hancock
Fed
Tim O’neill
Harris Bank
Bank of Montreal
Cynthia Latta
DRI
McGraw Hill
Japan
Consumers Brace for Fed Rate Hike as Market Jitters Rise
In New York AP report, consumers rush to lock in historically low mortgage rates ahead of potential Federal Reserve increases. Builders face higher material costs and doubt about rate moves, while real estate firms report brisk buying in June as buyers seek security amid economic uncertainty. Dorcas Helfant of Coldwell Banker helps illustrate the surge in market activity and buyer caution ahead of possible policy changes.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Dorcas Helfant
Coldwell Banker-Helfant Realty
Virginia Beach
Helfant
National Association of Realtors
Washington
Fed
Federal Open Market Committee
Y2K guidance urges investors to prepare before celebrations
Federal regulators and industry leaders released a Year 2000 Investor Kit advising investors to organize finances, obtain Y2K literature from brokers and funds, monitor provider computer readiness, and maintain long term investments. SEC Chair Arthur Levitt and NASD head Frank Zarb emphasize preparedness and the kits’ utility as a road map for clients.
MENTIONED IN THIS ARTICLE
Washington
Arthur Levitt
Securities and Exchange Commission
Frank Zarb
National Association of Securities Dealers
Nash.com
SEC
Sec.gov
Sharp stock fall ends dismal week
New York stocks plunged Friday extending a weak week on Wall Street amid rising expectations that the Federal Reserve will raise rates to cool the economy. The Dow fell 130.76 to 10,490.51 as rumors of an early Fed meeting and a hedge fund failure rattled traders after a mixed Producer Price Index report.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
U.S
Fed
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