Word: keidel
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Dates: during 2007-2007
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...with the masses, but may undermine efforts to contain inflation. "As low-income earners enjoy higher incomes they tend to spend money," says Simpfendorfer, the Royal Bank of Scotland economist. "Ultimately that's an inflationary story." Political considerations can also prevent officials from taking aggressive, timely action, says Albert Keidel, a senior associate with the Carnegie Endowment for International Peace and a former Beijing-based senior economist for the World Bank. "It's better to nip inflation in the bud," Keidel says, "but [politicians'] concern is that if they take it seriously, it shows they haven't managed the economy...