Word: offsetting
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...Another reason is the performance of monetary policy. The Federal Reserve and other central banks have learned the lessons of the 1970s. Because monetary policy works with a lag, the short-term inflationary effects of a sharp increase in oil prices can generally not be fully offset. However, since Paul Volcker's time, the Federal Reserve has been firmly committed to maintaining a low and stable rate of inflation over the longer term. And we recognize that keeping longer-term inflation expectations well anchored is essential to achieving the goal of low and stable inflation. Maintaining confidence...
Facing record gas prices, President Bush reluctantly signed a bill to halt the deposit of 70,000 barrels of oil per day into the Strategic Petroleum Reserve, a two-month buffer of crude last tapped to offset disruptions caused by Hurricane Katrina. The amount of extra oil is relatively tiny--the world produces close to 75 million bbl. per day--meaning the move will have little impact on prices. Still, the measure sailed through Congress with overwhelming support...
...target finds it too difficult or costly to reduce its CO2 emissions, it can instead buy "certified emission reductions" from developing countries (which have no such targets). "Certified" means the U.N. has to be satisfied that the reduction would not have occurred anyway and that it has not been offset by increased emissions elsewhere (if, say, it has been achieved by a factory closing down). But the system is impossible to police, and media investigations have revealed that many CDM projects are distinctly dubious...
...leading Singaporean gastro-pundit Raymond Lim of Les Amis, as we sat outside at his packed local Ting Heng Seafood (tel: (65) 6323 6093), on the edge of the Geylang (red light) district. Here the crab is served ready cracked and the roe adds a crunchy intensity that's offset by a light yet pungent sauce. Now I understand why for the true chili crab cognoscenti, texture is as critical as spice...
...balance between the formulaic familiar and the innovative, and thus far that blend proved elusive in Hong Kong -the gateway to a vast number of Asian visitors whose exposure to Disney storylines is lower. Last year's annual report noted that revenue growth at the resort in Paris was offset by Hong Kong's low attendance. Management hopes that "Small World" will help turn things around, but that may be a tall order, even for over 2,000 pounds of glitter and 241 dolls...