Volcker rejects fixed rate plan to curb inflation
Federal Reserve Chair Paul Volcker told the Joint Economic Committee that mandating fixed interest rates is unworkable and risks reigniting inflation. He urged patience and warned that aggressive rate targeting could conflict with growth, noting deficits, financial strains, and lingering inflation concerns as obstacles to 1983 recovery.
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Washington
Federal Reserve Board
Paul A. Volcker
Federal Reserve
Committee of Congress
Volcker
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Congress
UNESCO Faces Grim Scene at Paris Conference
UNESCO chief Ahmadou M'Bow warned of widening global inequalities fueling despair as delegates from 158 nations and the PLO review a 1984 1989 draft plan. He cited income and life expectancy gaps and interdependence heightening vulnerability amid debates on education science and human rights.
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Paris
Ahmadou Mahtar M’bow
Unesco
M’bow
U.N. Educational, Scientific and Cultural Organization
Nations
Palestine Liberation Organization
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