Fed hints at rate hike after Y2K change

Article Abstract:

The Federal Reserve will maintain current interest rates but may raise them in early 2000, assuming that the Y2K problem would not seriously damage financial markets. It said that the current interest rate of 5.5%, adopted on Nov 16, 1999, would not be raised. The Fed said that its main purpose is to see a smooth transition into the year 2000. The Y2K problem was also the reason why the Fed has not moved into a 'tightening bias.' This is a situation wherein the Fed remains worried about inflation that it might be forced to raise interest rates.

Government expenditures, Administration of General Economic Programs, Currency Stabilization Programs, Currency stabilization

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Forget oil - the price of natural gas is skyrocketing

Article Abstract:

US consumers face the possibility of an expensive winter after the price of natural gas futures rose to $5.31 per million Btu at the New York Mercantile Exchange on Sep 27, 2000. This is more than twice natural gas' low of $2.17 on Jan 5, 2000, and 62 cents higher than in Aug 2000. The American Gas Assn has already warned consumers that gas prices could be 15 to 40% higher than in 1999. Industry analysts added that current gas stockpiles are also lower than their five-year average.

Natural Gas, Crude Petroleum and Natural Gas Extraction, Consumer prices

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