Fed poised to cut rates again to spur expansion
Economists expect the Federal Reserve to trigger a third rate cut this year at the FOMC meeting amid weak manufacturing, cautious consumers, and Wall Street losses. Debate over a three-quarter or half-point cut centers on inflations low level and signs like a solid housing market.
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Washington
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Wall Street
Fed
Federal Open Market Committee
Feci
Sion
Diane Swank
Bank One
Alan Greenspan
Richard Yamarone
Argus Research Corp
Congress urged to reform Social Security and Medicare
Washington AP reports stronger surpluses do not end reform debates. Grassley supports Bush overhaul while Daschle warns budget undermines it. A Tuesday hearing will review trustees findings delaying trust fund exhaustion to 2038 for Social Security and 2029 for Medicare. Baby boom retirements threaten long term finances. Bush proposal seeks private competition to sustain the programs.
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Social Security
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F-16 pilot cleared in fatal Florida collision
An F-16 pilot, Capt. Greg Kreuder, was cleared of wrongdoing after colliding with a small plane near Bradenton killing pilot Jacques Olivier. Kreuder had been following lead pilot Lt. Col. James Parker en route from Moody Air Force Base to a central Florida bombing range.
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Bradenton
Fla
Greg Kreuder
Stephen T. Sargeant
Jacques Olivier
Kreuder
James Parker
Moody Air Force Base
Georgia
Florida
Becker's Bridge Think Before You Leap East dealer
Analyzing a bridge deal where faulty defense let declarer make 3NT despite a supposed defense. With North cards 1072 KJ1095 92, East KPAG64 K95 872, South oJ54 1982 8642 AQ4 Q1083, West 105 2 AQ1, pass sequence leads to misdefense. East could have prevented nine tricks by allowing dummy’s jack to win, altering continuation and limiting declarer to two spades, three hearts, two diamonds, and three clubs.
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Declarer
West
South
East
Hearts
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