Word: short-term
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...John Dingell scolded the White House for letting Big Oil get away with price gouging on the way to the pump and called on Bush to follow his own campaign advice and say to OPEC, "open up your spigots." Other Democrats stumped for further short-term measures - repeal "gas tax" to ease price pressures at the pump, and wholesale price caps on electricity to force California's energy market back into a more consumer-friendly balance...
...Cheney's proposal reflects the Administration's deep belief that the free market is best equipped to sort out short-term issues. "It's pretty astonishing," says a Democratic Senate staff member briefed on the general outlines of the report. "They have a fundamental belief that if you leave these energy markets alone, they'll right themselves...
...Secretary of Energy Spencer Abraham acknowledges that the new policy won't do much now, but he insists that those short-term issues will be addressed "on a separate track." His department is investigating reports that gas-station owners have been told to expect $3-a-gal. prices this summer. Those rumors, Abraham suggests, might be evidence of price gouging. "Rumors become self-fulfilling prophecies," he says...
...dodging a recession are actually looking pretty good. On Friday, encouraging reports for April on retail sales (up), consumer sentiment (up) and wholesale inflation (pretty tame) put a dent in the unanimous expectation that the Fed heads would chop another 50 basis points, or a half-point, off the short-term interest rate that is the Fed's raison d'etre. Theoretically, Fed cuts take 6-18 months to work their magic in the economy (though the stock market "wealth effect" has in recent years been credited with speeding that up). If consumers, flush with mortgage-refinancing cash...
According to the bill’s author, council member Rohit Chopra ’04, “the short-term remedies include bringing in a slew of departmental alternatives to alleviate the current shortage, being more lenient on granting petitions to grant Core credit for departmental courses which fit the basic goals of a Core area, and the appointment of Faculty subcommittee chairs who aggressively recruit their colleagues to teach Core courses...