President Barack Obama’s plans to confront Russian aggression and aid Ukraine are complicated by a domestic roadblock: House Republicans wary of bailouts and suspicious of empowering the International Monetary Fund.
The Obama administration will seek to include legislation increasing International Monetary Fund resources in an aid package the U.S. is preparing for Ukraine, according to a Treasury Department official.
When James Tobin joined President John F. Kennedy’s administration in 1961, the U.S. economy was struggling to recover from its third recession in seven years. As a member of Kennedy’s Council of Economic Advisers, the Yale University professor put his theoretical research on asset markets to work in fashioning a novel strategy -- nicknamed Operation Twist -- to reduce long-term interest rates.
French Finance Minister Christine Lagarde is cementing her status as the front-runner to head the International Monetary Fund , arousing concerns among emerging- market nations about a rush to judgment in filling the job.
Stanley Fischer, said to be the leading candidate for the No. 2 job at the Federal Reserve, offers crisis-fighting experience and a dose of skepticism about efforts to shape expectations on the outlook for interest rates.