Fed hopes for soft landing

Article Abstract:

The Federal Reserve Board has raised interest rates by a quarter point to 5.75% to create a soft landing for the economy. The move is aimed to slow the economy enough to prevent inflation without ending the country's longest economic expansion. Federal Reserve officials said that the slight increase in interest rates would head off price pressures out of the economy without triggering recession.

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Rates increases quarter point

Article Abstract:

The Federal Reserve Board has increased interest rates by a quarter point to 5.75% on Feb 2, 2000. The move was aimed to ease inflationary pressures resulting from the economic expansion, currenty at 5.8% per annum. The slight increase in interest rates is expected to create a soft landing for the economy by heading off price pressures without triggering recession.

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New oil expected to have a quick price effect

Article Abstract:

Pres Clinton has decided in Sep 22, 2000 to release 30 million barrels of oil from the country's Strategic Petroleum Reserve to bring down oil prices, which reached $40 a barrel in early September. The Dept of Energy will release about 1 million barrels a day for 30 days. The move is expected to pull oil prices to $30 a barrel or less, according to analysts. Oil companies will start bidding for the 30 million barrels on Sep 25.

Petroleum and Coal Products Manufacturing, Petroleum

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