Word: stanching
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...less dramatic scenario foresees a slower decline in U.S. markets, as better economic times in Europe and Asia prompt an orderly departure of foreign money for promising opportunities at home. But this would still reverse the wealth effect and stanch U.S. consumption. No board member dissented from the view expressed by Lipp that debt-fueled consumption and big current account deficits were "a sword of Damocles." Though that danger may not be immediate, Hormats noted, it is probably behind efforts by U.S. Treasury Secretary Robert Rubin and Deputy Secretary Lawrence Summers to push for Europe and Japan to do more...
...which was to call for a censure of the President. He resisted pleas by White House chief of staff Erskine Bowles to hold his tongue until Clinton's return from Russia and Ireland, and thus underscored for White House advisers the urgency of launching their own battle plan to stanch the rapid deterioration of their defenses on the Hill...
...second-term job, flew in from California and went straight to the White House. Ickes' prescription for the President: Look the people straight in the eye and, to the extent you and your lawyer are confident, say, "I didn't do it." Only a loud, unambiguous denial would "stanch the wound," Ickes said. Thomason, meanwhile, helped the President rehearse the stern, reproving body language, according to a source familiar with the meeting...
...They fell 24% in 1996--dropping 300% from the mid-1980s--and remained flat last year, pounded by a wave of delinquencies as consumers maxed out their debt. "The credit-card free-for-all has come back to haunt the industry," says Robert McKinley, president of RAM Research. To stanch the southern flow of profits, card issuers are seeking to edge up their income by retrenching on offers and charging penalties, new fees and higher rates...
This week Hashimoto's ruling party is scheduled to unveil a series of fresh steps to stimulate Japan's economy and stanch the banks' hemorrhaging. But what will those actions be? And will they provide strong enough medicine? A source close to the Prime Minister says it is "impossible" for the government to offer the kind of tax cuts that spur solid economic growth. "He will be able to offer a measure of confidence for the banking system," says the insider. "But we will not see economic growth for quite some time." Says former Prime Minister Kiichi Miyazawa, with characteristic...