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.
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.
Europe’s debt crisis could be contained by using the European Central Bank to make up to 5 trillion euros ($6.7 trillion) available through a euro-area rescue fund, according to a “strategy game” conducted by about 50 experts and former government officials.