Word: creditably
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...during the coming year will depend in large part on the actions of the Federal Reserve. Faced with problems ranging from a sagging recovery last fall to an Ohio banking crisis in March, Fed Chairman Paul Volcker has been allowing the money supply to grow more rapidly to keep credit affordable. With inflation still in check, the central bank will be tempted to continue its looser-money policy. "Right now the economy's giving off a mixed picture," says Manuel Johnson, Assistant Treasury Secretary for Economic Policy. "But if we can be sure that monetary policy won't tighten over...
...also shut off credit to Argentina, which owes $48 billion in loans. Although the country promised the IMF last September that it would slash inflation from a 687% annual rate to 300%, prices are now rising at an 851% pace. The government is trying to slow the whirlwind by limiting wage hikes to 90% of the previous month's cost of living increases, but that policy has led to a series of strikes, which threaten to stall economic growth. Admits President Raúl Alfonsín: "The government is multiplying its efforts to get the country back on its feet...
...State Department report last month claiming that 90% of the cocaine hitting U.S. streets comes via Mexico, much higher than prior estimates of less than 75%. Mexico disputes the report, especially since it has made strides in breaking up the large cartels. "Nobody has given us credit," Fox complained at a press conference before a meeting with Bush last month...
...would love to study abroad myself, if I could go to the country of my choice—for which I have studied the language and am interested in living—and that happens to be Israel. Of course, Harvard unilaterally prohibits accepting credit or giving out funds for any country on the State Department list of travel advisories, no matter how safe or unsafe that country is. This method disregards countries with diverse regions, individual responsibility for liability, and one’s individual course of study—all of which generate experiences with varying degrees...
Prepare to take a closer look at your credit-card bills: Chase, Citibank, and other card issuers are raising minimum payments from 2% to as much as 5% of outstanding balances. The rates will take effect by fall. --By Jeremy Caplan