The Battalion. (College Station, Tex.) 1893-current, January 31, 1995, Image 14

Texas A&M Newspaper Collection

The Battalion. (College Station, Tex.) 1893-current, January 31, 1995, Image 14

Newspaper Page TextPage 14 • The Battalion Tuesday •January 31, f Interest rate boost expected this week S9 Defense Studies at CjFXmCjETOW^ZlNPSERSrrY The Georgetown University National Security Studies Program offers a Master of Arts degree in defense studies from one of the nations most prestigious universities. The program provides a rigorous and balanced curriculum of advanced courses taught by recognized experts, including: WASHINGTON (AP) — With Alan Greenspan calling economic growth “torrid,” the Federal Re serve is widely expected to boost interest rates this week for the seventh time in a year. That would drive up borrowing costs for millions of Americans. Many analysts are predict ing the central bank, which Greenspan chairs, will increase two key interest rates by one- half percentage point, trigger ing a similar increase in banks’ prime lending rate. The prime is the benchmark rate for many business and consumer loans. “They are going to raise rates again. There is just not enough evidence yet that the economy is slowing down,” said David Wyss, an economist at DRI-McGraw Hill, an economic consulting firm in Lexington, Mass. The Clinton administration also appears resigned to fur ther credit tightening. Asked if the White House was braced for another Fed rate increase this week, presidential spokesman Mike McCurry said, “It seems it would be wise to do that.” The speculation centers around the Tuesday-Wednesday meeting of the Federal Open Mar ket Committee, the 12-member group that sets interest rate poli cy for the central bank. The widespread expectation is that at the close of delibera tions, the panel will announce the central bank has decided to increase both its federal-funds rate and discount rate. The last changes in both rates occurred on Nov. 15 when they were increased by three-fourths of a percentage point, the biggest in crease in 13 years. That left the funds rate at 5.5 percent, 2.5 percentage points higher than it stood when the central bank started increasing rates on Feb. 4, 1994. The Fed’s stated aim is to engi neer a soft landing in which growth slows enough to keep in flation from getting out of hand but not so much that the countn is toppled into a recession. Inflation last year remained exceptionally well-behaved with consumer prices rising by just 2.7 percent and the core rate- which excludes food and energy — increasing just 2.6 percent, the smallest gain in 29 years. Such figures have prompted critics to attack the Fed’s string of rate increases as overkill But Greenspan, testifying be fore Congress last week, was unmoved by the attacks, insist ing as he has in the past thatif the Fed waits to tighten until inflation shows up at the con sumer level, it will have waited too long. Vol. s Persian Gulf Security (Anthony Cordesman) Weapons Proliferation (Janne Nolan) Low-Intensity Conflict (Chris Lamb) Defense Decision Making Process (Arnold Punaro) Emerging Security Challenges (Kenneth Adelman) U.S. Defense Policy (Stephen Gibert) Intelligence and National Security (Roy Godson) Media and the Military (Loren Thompson) Political Analysis (Michael Mazarr) Economics of National Defense (Robert Howard) California rain reopens battle over highway bypass If an M.A. degree in national security studies matches your professional needs and career goals, please call (202) 687-5679 to receive an application package. HALF MOON BAY, Calif. (AP) — If California falls into the ocean one day, let history record it began at Devil’s Slide, a winding, dangerous, breathtakingly beautiful stretch of the Pacific Coast Highway. The biblical rains flooding the state recently have turned the cliffs south of San Francisco into a rocky mush that has begun sliding into the sea inch by inch, taking part of the highway with it a week ago. In closing the road above Half Moon Bay, the slides reopened a 30-year battle between state transportation officials and residents of several small communities that are insulated from urban San Francisco by mountains and a pair of notori ously unreliable two-lane highways. The state wants to build a 4.5-mile, multi-lane bypass cutting through a state park and a moun tain to replace Devil’s Slide, which sits 150 feet above the white surf of the Pacific. The vast majority of about 20,000 people who live in Half Moon Bay, Montara, El Granada and other small communities below the cliffs fear the bypass will open their area for development, with mushrooming subdivisions of tacky ranch houses replacing farm land, coastal plains and forested mountainsides. “The whole coast is at stake,” said Olive May er, a local Sierra Club chairwoman who has helped stall the bypass with lawsuits. With the bypass, “they can turn our coast into a Long Beach or a Los Angeles — they’d just love to cov er our bluffs with houses.” Engineers for the state transportation depart ment, CalTrans, have been pushing the bypass since the 1950s. “It’s just going to keep on sliding, no matter how many times we repair it,” CalTrans spokesman Greg Bayol said. The stretch of road known as Devil’s Slide—a common name for the dramatic rock formations in the area — is the remains of an abandoned railroad bed that began crumbling the momenth was built along the cliffs in 1906. The great Sar. Francisco earthquake this year did the route nc good, but it was rebuilt. Application deadline for the spring, 1995 semester is December 1. Application deadline for the fall, 1995 semester is August 1. Weather Today Sunny with a high of 67. Southwest winds 5-10 m.p.h. Tonight Clear with an overnight low around 43. Light southerly winds. Wednesday Sunny. High of 75. Southerly winds around 10 m.p.h. Wednesday Night Clear. Low near 50. Thursday Sunny. High around 78. □ l aw lea the A& By S The E Ur lookii year-i Mond Bo Police walki 8:10! Heth W1 Source - A&M Chapter of the American Meteorological Sociely MEN’S GOLD TOE SOCKS 25%0EE! Stock up and save on our entire stock of Gold Toe socks for men ALL DRESS ALL CASUAL Through Saturday, February 25, don’t miss this opportunity to fill your sock drawer at substantial savings. Choose from dress, casual and athletic styles of acrylic, nylon and cotton. Crafted for outstanding comfort, fit and long wear. In an array of classic and fashion solid colors and patterns. One size fits 10-13. Reg. 4.50-13.50, sale, 3.37-10.12 Stu Cla Selection varies by store. Some items not available in all stores. V ALL ATHLETIC ALL PATTERNS Dillard’s SHOP DILLARD’S MONDAY THROUGH SATURDAY 10:00-9:00; SUNDAY 12:00-6:00; DILLARD’S AND ALL MAJOR CREDIT CARDS WELCOME □ Te colh Mer By B The B. Te> enroll ment ing to Porati Ric Hous' v ersii rank j rollers Dr. dent c the re tion oi each o Te other ' list in comini A& rollrm Achie- each, the ng m Th( Texas Bri neerjr

Texas A&M Newspaper Collection

Texas A&M Newspaper Collection

The Battalion. (College Station, Tex.) 1893-current, January 31, 1995, Image 14

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