Greenspan open to rate cuts as world crisis grows
Federal Reserve Chair Alan Greenspan signaled potential U.S. rate reductions to shield the economy from global financial stress. He spoke after meetings with Robert Rubin and Kiichi Miyazawa, noting inflation risks had cooled as recession fears rose with worldwide dislocations. Analysts viewed his remarks as shifting from a focus on domestic labor markets to Asia-driven economic cooling.
MENTIONED IN THIS ARTICLE
San Francisco
Federal Reserve
Alan Greenspan
U.S
Treasury
Robert Rubin
Kiichi Miyazawa
United States
Greenspan
Fed
Asia
Congress
Union Flight Attendants Rally As Talks With Northwest Begin
Union workers at Northwest Airlines rallied as talks with the carrier opened with federal mediators. A Saturday Chicago meeting was seen as non breakthrough, with little chance of near-term agreement and Mondale noting wide gaps between sides.
MENTIONED IN THIS ARTICLE
Minneapolis
Northwest Airlines
Chicago
Walter Mondale
Northwest
AirTran
ValuJet Airlines
Air Canada
Child care may organize for Seattle labor drive
In Seattle, day care staff attend a nap time meeting that doubles as a labor union recruitment event under an AFL CIO initiative. The Seattle Organizing Center backs a grass-roots coalition of workers, aiming to model a national effort despite challenges seen in other organizing drives. Vice President Al Gore and AFL CIO President John Sweeney will boost the effort during Labor Day.
MENTIONED IN THIS ARTICLE
Seattle
First Hill
Afl-Cio
al Gore
Aflcio
John Sweeney
Seattle Project
Relatives of Swissair crash victims gather at Peggy's Cove
More than 300 relatives mourn near Halifax as they visit Peggy's Cove, the closest town to where Swissair Flight 111 crashed killing 229. Rescue teams use ships and divers to search for the black boxes amid slow body recoveries. Canadian authorities resume black box search. Swissair SAir Chief notes forthcoming cockpit conversation release.
MENTIONED IN THIS ARTICLE
Halifax
Nova Scotia
Swissair Flight 111
Peggy’s Cove
Philippe Bruggisser
Swissair
Sair Group
Zurich
Switzerland
New York
Geneva
Peter Gerety
Connecticut
Plcts
Moncton
New Brunswick
Yeltsin Wins Pause in Russia Prime Minister Vote Crisis
In Moscow the Duma postponed hearings on Viktor Chernomyrdin after a 294 to 51 vote. Yeltsin’s spokesmen urged calm as the ruble fell to about 16.9 per dollar and inflation spiked in August. Federation Council backed Chernomyrdin, signaling possible pressure on the Duma to compromise. Political leaders planned more talks over the weekend.
MENTIONED IN THIS ARTICLE
Moscow
Boris Yeltsin
Viktor Chernomyrdin
Yeltsin
Sergei Yastrzhembsky
Duma
Chernomyrdin
Nina Vasilyeva
Mr. Chernomyrdin
Federation Council
Dence
Mr. Yeltsin
Also Mentioned on This Page
Clinton
Japan
Rubin
Miyazawa
Oakland
Poly
Union
Washington
John Koskinen
Federal Office of Management and Budget
OMB
South Side
Ryan Harris
al Capone
Philadelphia
Eastern State Penitentiary
Capone
Sean M. Kelley
Eastern State Penitentiary Historic Site
Kelley
Pergo
McCain
Frederick
Roy Rogers
Cliff Se Shirley
Jeff Katz
Holiday Inn
Frederick Carl
Bill Castle
Maryland
Patriot
OUR
Korotky
Sworld
Westridge
Cybex
Hammer
Lifefitness
Trotter
Gold's Gym
Germantown
Gaithersburg
North Potomac
Silver Spring
Olney
Rockville
Earn
Calvary Church
Jeu
Calvary United Methodist Church
S. Main Street
Mt. Airy, MD
Weldon
Frederick County
Rick Weldon
Amy M. Weldon
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