Word: chiefed
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...consumer spending and investment by businesses, and can lead to a deflationary spiral like the one the world experienced during the Great Depression. "If price deflation leads to asset deflation and that leads to further deterioration, then that will lead to the collapse of the economy," says JPMorgan Securities chief economist Masaaki Kanno. Deflation has periodically plagued the Japanese economy for the last 15 years, ever since a spectacular asset bubble burst in the early 1990s. One of the country's revered economic figures is Korekiyo Takahashi, a former prime minister and finance minister who is credited with reining...
...student body, meanwhile, remained in the dark about who will lead its chief governing body for the next two semesters...
...when 74 senators voted in favor of a 14 percent interest-rate cap on credit cards. George H. W. Bush had given a fundraising speech in New York where he talked about lowering credit-card rates, a bullet point that had been included at the last minute by his chief of staff but hadn’t been approved by his economic advisors. Support from a Republican president lent congressional Democrats the air cover to move a bill that received no more than 30 minutes of debate on the Senate floor before passing by a vote 74-19, a vote...
...ceremony at the presidential palace in Kabul, finally putting an end to a drawn-out election drama mired in accusations of fraud and corruption. Dressed in his trademark violet- and green-striped cloak and karakul hat, Karzai placed his right hand on the Koran and swore to the attending chief of the Supreme Court that he would uphold the constitution of Afghanistan and lead the country into peace and stability. One can only hope he keeps that promise...
...Rompuy's career has been mainly that of a behind-the-scenes fixer in Belgian politics. And he emphasized that his position was not that of chief executive but, as President of the European Council, the body that gathers the E.U.'s leaders for summits, he is more of a chairman, whose role is to mediate across the E.U. "My personal opinion is totally subservient to the Council," he said. "It doesn't matter what I think. My role is to find a consensus...