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These music favorites aren't the only shows on our 1999-2000 roster.
The Barber of Seville
New York City Opera National Company
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CD CO
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To find out more, visit our website at opas.tamu.edu or call 845-1234.
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The Battalion’s now offering access to The WIRE
A 24-hour, multimedia news service for the Internet from The Associated Press
The WIRE provides continuously updated news coverage from one of
. the world’s oldest, largest news services via The Battalion's web page.
■ A comprehensive, up-to-the-minute news report combining the latest AP stories with photos, graphics, sound and video.
• Headlines and bulletins delivered as soon as news breaks.
http://bat-web.tamu.edu
Page 6 • Wednesday, June 30, 1999
N
ATION
Fed expected to raise rate!
WASHINGTON (AP) — The
Federal Reserve will nudge interest
rates up today for the first time in
more than two years, according to
the widely held view in financial
markets.
Then the real guessing game be
gins: How many more rate hikes
will the central
bank order to
slow the red-hot
U.S. economy to a
more sustainable
pace?
While analysts
disagree on how
high the central
bank will need to
boost borrowing
costs for millions of American con
sumers and businesses to slow eco
nomic activity, they are virtually
certain the Fed will start the
process today.
“Short of jumping up and down
and yelling, [Federal Reserve Chair
GREENSPAN
Alan] Greenspan has pretty much
announced this move as much as
he can,” David Wyss, chief finan
cial economist at Standard & Poor’s
DRI, said.
Wyss and other economists said
Greenspan left no doubt with his
June 17 testimony in Congress. He
said, “When we can be pre-emp
tive, we should be.”
Financial markets rallied for a
second straight session yesterday,
with the Dow Jones industrial av
erage rising by 160 points to close
at 10,815, after a 103-point gain
Monday. Analysts said traders saw
buying opportunities in advance of
the Fed’s expected rate hike.
The Fed under Greenspan has
preferred to be forward-looking,
moving to raise interest rates before
higher inflation has a chance to be
come embedded in the economy.
But the question is whether
these rate hikes will be a replay of
1994 or of 1997.
In February 1994, the I
Greenspan launched a pre-ei5|
strike against inflation, andt
the central bank was finishedaj]
later it had driven rates upbyj
percentage points in sevensepi
steps. The economy slowed,if
flation stayed under control.
The Fed started raising:
again in March 1997. Thatii
stopped after a quarter-pod
crease it believed was suffici
show its inflation-fighting resaj
The 1997 tightening ca®
before the global currency:
struck in Asia. Before that!
was over, the Fed had toi
course last fall and cut rates:'
times to keep the U.S. ecoi
from tumbling into a downtt:
Critics from both consen,'
business groups and liberalii(j
unions believe the Fed willbe/
ning the risk of upsetting at
global recovery if it beginsi
U.S. rates.
Hormel takes oath
under high scrutiny
WASHINGTON (AP) — It is usu
ally a private, low-keyed affair when
an ambassador is sworn in. The pat
tern was broken yesterday as James
Hormel became ambassador to Lux
embourg before a raucous gathering
of supporters assembled in the State
Department’s main reception room.
“What an incredible privilege it
is to be standing before you today,”
Hormel, who is homosexual, told
the gathering of several hundred.
Many from San Francisco who
stood with him during his tortuous
20-month journey from nomination
to swearing in.
Television cameras lined the rear
of the majestic eighth-floor room of
the State Department. Normal pro
cedure on such occasions is to bar
the press altogether.
The reason for the hoopla, of
course, is that Hormel is the first
openly gay ambassador. Uncertain
ty had shrouded Hormel’s appoint
ment almost from the day he was
nominated because of opposition
from a relatively small group of sen
ators.
President Clinton broke the im
passe three weeks ago when he
made Hormel a “recess appoint
ment” — a method to circumvent
the normal Senate confirmation
process.
The Traditional Values Coalition,
a church lobby that opposed the
nomination, said in a statement that
the swearing in of Hormel marks
“the beginning of the Gore cam
paign’s efforts to woo the homosex
ual vote. ”
Expiration coi
for counsel la:
WASHINGTON (AP)—The
pendent counsel law, bom of
and steeped in controversy at o '
of nearly $150 million so law
today at age 21.
The relevant provisions o‘
Ethics in Government Act off:
once were hailed as a bipartis?
sponse by Congress to theStii
Night Massacre, in which two*
neys general resigned rathe:
carry out President Nixon's 19'!
mand that Watergate special r
cutor Archibald Cox be fired.
But support for the law erode
ter investigations spanningthf
ministrations of four presides
Carter, Reagan, Bush and Clink
focused on allegations of cm
use, Mafia ties and marital infe
The law’s demise marks a
to pre-1978 policies. Attorney
eral Janet Reno says her Jusfe j
partment stands ready to take
the job of appointing specialp
outers to investigate miscorr
high-ranking government officii
The
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930s 1
ations
mildin
estaur.
omple
The
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02 Col
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APPLY TODAY
Staff
Application
Fall ’99
Name:
Number of hours you will take in the summer:
Phone Number(s):
Expected graduation (semester):
Major:
If you have another job, what is it?
Classification:
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Please check the position(s) for which you are interested in applying. If you are interested
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Feature Writer
Page Designer
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Jar
24
J]
Radio
Anchor
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Please attach a resume and samples of your work (stories you have written for publication
or classes, pages you have designed, photos, drawings or other creative samples).
Tam applications in to Room 013 of Reed McDonald by 5p.m.
Applications due Wed., June 30,
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