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Period: to
Business Cycle
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Fuel cost increase.
California gasoline and diesel fuel tax increase of 5 cents per gallon. -
Population Increase.
California population reaches 30 million according to California Department of Finance. -
Federal reserve cuts bank requirments.
Federal Reserve cuts bank reserve requirements by $11 billion. -
Prime rates cut.
Prime rate cut from 10 percent to 9-1/2 percent -
Budger Bill.
After a record 64 days without a state budget, Governor Wilson signs the 1992-93 state budget bill. -
Rice Imports
Japan and the U.S. agreed on a plan to open Japan's markets to rice import. -
GATT
Congress approved the General Agreement on Tariffs and Trade (GATT). The GATT accord cuts tariffs globally by roughly 40%, extends intellectual-property rights and tightens rules on investment and trade in services. -
Chinese Markets
China and the U.S. reached agreements that should further open Chinese markets to U.S. agricultural production, lift suspension of a 1992 market-access accord and open discussions on allowing U.S telecommunications and insurance services into China. -
Sicily was born.
This human being was born and now makes everyone smile :) -
Clarissa was born.
This wonderful human being was born! The world has since been a better place. -
Fourth largest Savings and Load Association
First Nationwide Bank will acquire Cal Fed Bancorp Inc. creating the nation’s fourth largest savings and loan association -
Unemployment
The nation's unemployment rate falls to a 24-year low. -
Rates
Federal funds rate reduced from 5.00 to 4.75 percent.
Discount rate reduced from 4.75 to 4.50 percent. -
California's Unemployment
California’s unemployment rate moved down from 5.7% in April to 5.2% in May, the lowest level since mid-1990. -
Oil Prices
World oil prices are rising because of increasingly tight supplies. U.S. inventories are at their lowest level since 1976 and crude prices have increased significantly contributing to costlier gasoline and heating oil.
