-Caveat Lector- <A HREF="http://www.ctrl.org/">
</A> -Cui Bono?-
from:
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-----
Affairs of State
Hillary: I did not have sex with Vince Foster
(It doesn't count if I didn't have an orgasm.)
BUFFALO, N.Y. (AP) -- The questions are getting more personal every day for
Hillary Rodham Clinton: Has she been unfaithful? Used drugs?
``No'' and ``no,'' she said Wednesday, a day after being asked in a TV
interview if she really planned to leave her husband. It was ``no'' to that,
too.
Mrs. Clinton, submitting to more radio and TV interviews as she nears a
formal announcement that she is running for the Senate from New York, made it
clear she didn't appreciate the more personal lines of questioning.
``You're going to hate me,'' said WGR-FM morning host Tom Bauerle in Buffalo
in introducing his question: ``Have you ever been sexually unfaithful to
(President Clinton) and specifically ... with you and (the late Deputy White
House Counsel) Vince Foster?''
``I do hate you for that,'' Mrs. Clinton said, according to a tape of the
interview provided by the station. ``I think those questions are out of
bounds.''
Bauerle asked again.
``Of course it's 'no,''' Mrs. Clinton said. ``At some point we all have to
say these questions, these speculations, really divert attention (from) what
we can do to work together.''
Bauerle's next question: ``Have you ever used pot or cocaine?''
``Tom, what did you have breakfast for this morning?'' Mrs. Clinton
responded. ``No,'' she said. ``We ought to be talking about bringing good
jobs to western New York and health care and child care.''
``I don't know that it's fair or unfair,'' Mrs. Clinton said later of the
questions. ``It is on some peoples' minds, but most of what people talk to me
about is the state of their families and their jobs and their schools and
that's what I'm going to be talking about.''
Mrs. Clinton said on Tuesday the nation's most famous ``commuter marriage''
will stay intact -- any rumors to the contrary.
``I have been with my husband for more than half my life. We've been together
-- this will be our 25th year of marriage -- and we have so much between us
and so many shared experiences and a lot of love in our family, and I
certainly intend to spend the rest of my life with him,'' Mrs. Clinton told
Buffalo's WKBW-TV in an interview.
Wednesday on that station, she also defended the choices she has made in her
marriage.
``I know people are interested, but this is something that -- I'm going to
have to live my own way and make my own decisions about,'' she said.
Mrs. Clinton told reporters that she would formally announce her candidacy in
Westchester County on Feb. 6. She recently moved into a $1.7 million house
she and the president purchased in the county just north of New York City.
Mrs. Clinton said that after her announcement she would tour the state.
Separately on Wednesday, Mrs. Clinton campaign committee said it had
collected $8 million for the race in six months, while advisers for her
likely opponent, New York Mayor Rudolph Giuliani, said he had raised $12
million last year.
The race is expected to be one of the costliest in history. Giuliani's camp
has said the goal is to raise between $15 million and $20 million for the
entire campaign, while Mrs. Clinton's advisers have pledged to raise more
than $25 million.
Meanwhile, she and New York City's police commissioner, Howard Safir, are
having a disagreement about her motorcades.
Safir said Wednesday that Mrs. Clinton does not want her motorcade
accompanied by marked city police cars. Mrs. Clinton usually travels in a van
accompanied by several other cars carrying her campaign staff, Secret Service
agents and sometimes reporters. Typically, a city police car is at the front
and rear of the motorcade.
``If you want to be expedited through the city, going through red lights,
closing off streets, it has to be done with marked cars so the public
understands it's a police operation,'' Safir said. ``You can't do that with
unmarked cars. And that's our problem with the Secret Service and Mrs.
Clinton's motorcade.''
Mrs. Clinton's entourage does not routinely go through red lights or
commandeer lanes of traffic to speed her travel -- not even when she's
running late. In one instance she got out of her car and walked to a
destination in midtown because she was stuck in traffic.
Giuliani said he wants marked police cars to remain in his entourage.
``I want the NYPD,'' he said. ``I like the NYPD. I like people seeing the
NYPD is with me. I'm very proud of the New York Police Department.''
Mrs. Clinton's spokesman, Howard Wolfson, would not comment other than to
say: ``I don't think we will ever talk about her security arrangements.''
The Associated Press, January 19, 2000
Federal Reserve
We Tried to Be Open, But That Was Too Confusing
So we've changed from "bias" to "risks". Now is that perfectly clear?
WASHINGTON -- The U.S. Federal Reserve changed its procedures for
communicating its monetary-policy outlook, conceding in a statement that an
experiment in openness last year had backfired, causing "unanticipated
confusion."
Under the changed rules, to be applied for the first time at the central
bank's next policy meeting Feb. 2, the Fed will no longer adopt a "bias"
toward higher or lower rates.
Instead, officials will disclose after each rate-setting session a more
general description of how the Fed's open-market committee views "risks" to
the economy. The committee will have three options: that inflation is a
greater risk to the economy than a slowdown, that a slowdown is the greater
risk, or that the risks are balanced between the two.
The Fed will automatically make the statement public after every meeting. A
year ago, officials said they would announce their "bias" only when the
change was significant, a procedure that tended to magnify the attention
given the releases.
Some Wiggle Room
The changes are subtle but, central-bank officials believe, important. By
declaring inflation the greatest threat, officials would clearly be
suggesting they are leaning toward raising rates in the future, much as they
did when announcing a "bias" toward higher rates.
Yet officials hope they are creating some wiggle room for themselves by
intentionally making more vague the weight of the statements. When the Fed
started revealing its "bias" statements in May, financial markets tended to
treat the directives as a virtual guarantee of the outcome for subsequent
meetings -- assuming a "bias" toward tightening likely meant a rate rise, and
that a neutral bias likely meant no rate rise.
That wasn't what the Fed intended. With markets ascribing greater clarity to
Fed statements than the Fed did, officials at times felt boxed in by extreme
market reactions. The statements increased "the possibility of misperceptions
about the odds and timing of policy action," the Fed's statement said. The
new approach aims to suggest that, even though the Fed says it is worried
about inflation, this "would not necessarily trigger either a current or a
subsequent policy move."
"We're attempting to be clearer that there is, if you will, a more attenuated
link between these statements and the future path of interest rates," Fed
Vice Chairman Roger Ferguson said in a conference call with reporters. "We're
not attempting to deny that there's a link," added Mr. Ferguson, who was
chairman of an internal committee that drafted the procedures.
Direction Matters Most
But it is far from certain that the change is really going to alter Wall
Street's reaction. "We don't care what they call it. We care about the
likelihood they'll keep moving in a certain direction, and this won't change
that," James Glassman, an economist at Chase Securities Inc., said. "We'll
still be looking at the statements for their general leaning."
While the tweaking of post-meeting announcements may sound highly technical,
the issue has received tremendous attention in financial markets and is part
of Fed Chairman Alan Greenspan's continuing campaign to make central-bank
decision making more transparent.
In 1994, seven years after Mr. Greenspan became head of the central bank, he
agreed to start announcing interest-rate changes the day they were made.
Before that, the Fed usually waited as long as six weeks after the fact.
In late 1998, in an attempt to provide even more information, officials
agreed to start disclosing right after meetings their "bias" as well as their
actions. The Fed began adopting a "bias" in 1983, but until last year kept it
under wraps for weeks.
The Wall Street Journal, January 20, 2000
-----
Aloha, He'Ping,
Om, Shalom, Salaam.
Em Hotep, Peace Be,
All My Relations.
Omnia Bona Bonis,
Adieu, Adios, Aloha.
Amen.
Roads End
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