Word: limitates
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...among equals and exerts a considerable influence over the FOMC. But as a careful consensus builder, he is also at pains to stake out positions that the rest of the committee can live with--and thereby avoid any risk of being embarrassed by a close vote. "There is a limit to how far the chairman's influence can be extended," Fed governor Laurence Meyer recently explained. "A good chairman sometimes has to lead the FOMC by following the consensus within the committee...
...sent shivers up the spines of FOMC members, who fear that tight labor markets will lead to inflationary wage increases. To make matters worse, from a Fed perspective, the economy expanded at a brisk 5.4% clip in the recent first quarter, well above the presumed 3.5% to 4% "speed limit" that many economists have viewed as the upper range for growth without inflation...
...Well, maybe not completely. "These are the kind of signs that the Fed is looking for, that the economy is slowing down and consumers are reining in their spending," says TIME senior economics reporter Bernard Baumohl. "But Greenspan still sees signs of inflation. The most this does is maybe limit how much he'll raise in June - probably 25 basis points - and give the markets hope that it's the last one for a while." When the markets become convinced of that, it could be the beginning of a steady climb back toward those long-ago highs. At least...
...accomplished architects and repackaging President Reagan's missile defense policy. Then again, Reagan national security adviser Robert McFarlane long ago acknowledged that rather than seriously contemplating a viable defense system, his administration's missile defense policy was an elaborate sting operation to spook the Russians. Candidate Bush, however, may limit himself to spooking the electorate...
...this sort of campaign, undertaken as a last resort in pursuit of human rights and regional stability. NATO acted reluctantly against a government perpetrating a great wrong against its own people. The conflict reflected, at least on the allied side, all the inhibitions of two centuries of effort to limit warfare as well as a growing spirit of international community. As a French pilot remarked during the operation, "We don't want to bomb these bridges over the Danube or hurt the Serb people. They are our European brothers. And who will have to pay to rebuild the bridges...