In June, economists from UCLA's Anderson School were predicting higher interest rates in late 1998 and early 1999 as the Fed moved to contain "unsustainable growth." But things have changed a bit in three months: Now the economists see lower rates in 1999 as the Fed moves to combat slowing growth. They blame their about-face on the falling stock market.
Call 'em Flexible
In June, economists from UCLA's Anderson School were predicting higher interest rates in late 1998 and early 1999 as the Fed moved to contain "unsustainable growth." But things have changed a bit in three months: Now the economists see lower rates in 1999 as the Fed moves to combat slowing growth. They blame their about-face on the falling stock market.
