Global leaders back swift IMF support to curb crisis
The G7 nations endorsed a United States led plan to empower the IMF with more rapid emergency loans to countries facing financial panic. Treasury chief Rubin and Fed Chair Greenspan met with Clinton, Blair, and Chirac to push contingency financing and stability measures amid Japan’s deep recession and Russia’s economic collapse.
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Supreme Court Opens 1998 Term On Gangs Welfare Census
The Supreme Court begins its 1998 99 term with 45 cases, including challenges to loitering ordinances aimed at gang members and limits on welfare for new California residents. The term also weighs in on the 2000 Census fight, school harassment lawsuits, and the future of local telephone service amid FCC price rules. The court reexamines race in districting and North Carolina's 12th District, along with potential propagation of state constraints on mobility and benefits.
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Clinton urges Congress to pass larger farm aid bill
President Clinton pressed Republicans in the House to stay in session until approving a $7.5 billion farm aid package, saying the $4.2 billion measure is inadequate. He cited drought, disease losses and weak Asian markets as factors harming farmers and stressed stronger safety nets and exports.
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