Fed weighs methods to avert Y2K cash crunch

Article Abstract:

The Federal Reserve is considering the implementation of special lending lines which will provide assistance to banks and credit unions which will experience cash problems resulting from the Y2K millennium bug. Fed officials, however, said that they are optimistics that financial institutions will not be subjected to year-end withdrawal problems. Experts opine that the special lending facilities could provide the Fed a greater leeway in promulgating monetary policy prior to the year 2000.

Public Finance Activities, Federal Reserve System

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Greenspan: Fed won't pull rug out

Article Abstract:

Federal Reserve Chairman Alan Greenspan said that he will not raise interest rates just to bring back down the surging stock market. Greenspan's earlier statement that the high stock prices might be difficult to sustain because of low corporate profits has raised fears of a possible interest rate hike. Greenpan said that his objective is maximum sustainable growth of the US economy and not particular level of asset prices.

Securities and Commodity Exchanges, Government regulation, Securities Exchanges, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Exchanges, Banking law

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U.S.-Japan summit cracks trade barriers

Article Abstract:

Pres Clinton, coming out of a summit with Japanese Prime Minister Keizo Obuchi, called on Japan to revive its ailing economy. While lauding Japan for taking concrete measures to recover from the slump, Clinton said there should be no room for complacency. Meanwhile, the summit bore an agreement on steps to open up some of Japan's business sectors, including telecommunications, energy and pharmaceuticals.

Japan, Administration of General Economic Programs, Trade Relations

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