Word: trichet
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Dates: during 2000-2009
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...want to tell our compatriots in all the countries of Europe that they can and should have confidence," declared French President Nicolas Sarkozy, who hosted the meeting since France now holds the rotating presidency of the European Union. European Central Bank President Jean-Claude Trichet echoed a nearly identical message of assurance. "The force of unity that we showed today," Trichet said, "is a fundamental element of confidence...
...Washington acted quickly. There was a Treasury Secretary to devise and present a rescue plan, and a Congress - after an initial case of the vapors - to act on it. But there is no Hank Paulson in Europe, nor a precise counterpart to Federal Reserve Chairman Ben Bernanke. Jean-Claude Trichet heads the European Central Bank, but it cannot play the lender of last resort, as the Fed did on Sept. 16 by loaning $85 billion to prop up the U.S. insurance giant AIG. In Europe, governments must act instead...
...early-morning announcement by the British government that it had crafted a $90 billion rescue package for its banks. Then five central banks from around the world, including the two big ones - the U.S. Federal Reserve and the European Central Bank - announced a cut in interest rates. Jean-Claude Trichet, president of the European Central Bank, described the cuts as an "important mark of confidence" that showed an "intimate cooperation" among monetary authorities around the world. Under normal circumstances, such measures would have bucked up moods and stock prices in financial centers across the globe...
...Inflation When Jean-Claude Trichet, the president of the European Central Bank (ECB), announced a 0.25 percentage point increase in Europe's key lending rate on July 3, he contended that it was critical to stave off the so-called secondary effects of inflation and "to neutralize the growing risks to price stability." In plain English, that means he's worried about an inflationary spiral in which manufacturers of industrial and consumer goods raise prices to compensate for higher costs - and workers demand hefty pay increases so they can afford the rising cost of their household purchases. The risk...
...Trichet's critics, including French President Nicolas Sarkozy, say it makes no sense for the ECB to raise interest rates to fight frothy commodity-market prices, and Trichet himself signaled that the bank isn't planning any more rate hikes in the near future. But surging inflation poses a huge threat to Europe's chances of beating the downturn, especially when combined with weak growth. Inflation is perhaps the trickiest economic indicator to forecast: for example, over the past year, the ECB's staff has based each of its inflation projections on an assumption that oil prices will stabilize...