Word: interests
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...president Janet Yellen recently put it, an issue that was practically unthinkable three months ago is now, for the Fed, front and center: the possibility of the U.S. entering a phase of deflation, or protracted declines in the general price level. In its statement accompanying the most recent interest-rate cut, the Fed said, "In light of the declines in the prices of energy and other commodities and weaker prospects for economic activity, [the Fed] expects inflation to moderate...
...Indeed, New York Federal Reserve governor and vice chairman of the Federal Open Market Committee Timothy Geithner was Treasury attaché in the Tokyo embassy for the first half of that decade. That's when a widespread banking crisis led to a credit crunch, an economic slump and eventually interest rates that were lowered to zero by the Bank of Japan. Even so, Japan's banks, which were in the process of repairing their balance sheets, were extremely reluctant to lend. Thus, even though interest rates were low, the economy weakened. Prices for pretty much everything declined, following a bust...
California's Proposition 10, which was backed by former oil tycoon T. Boone Pickens, would have established rebates for people purchasing automobiles fueled by natural gas or other alternative fuels; it was also defeated by some 60% of the vote. Critics pointed to Pickens' own vested interest in the natural gas market, and questioned the billions of dollars in taxpayer cost to implement such a program...
...their freshly minted colleague Barack Obama, just as for news anchors across the globe struggling to put Obama's victory into context, only one word seems to do the trick: historic. Repetition of that portentous adjective could have dulled its impact. But the sheer scale of the world's interest - the blanket media coverage; the election-watching parties, some slickly organized, others spontaneous; the fascination that overrode time zones and deep-seated political apathy to keep people glued for hours to radios and televisions and computers and, yes, Twitter - all served as reminders that this really was history...
...Israelis and Hamas were frantically passing messages to one another through Egyptians middlemen, urging a restoration of the truce. As Israeli Deputy Defense Minister Matan Vilnai explained, "We are not headed to an escalation. The lull brings peace and quiet to the southern communities, and we have an interest to maintain it." Given Hamas' arms build-up in Gaza, however, a showdown with the Israeli army is inevitable, say officials in Tel Aviv. But neither Hamas nor Israel is in any hurry for this to happen soon. So the cease-fire is likely to be restored - at least...