The problem is the vacuum at the center. The International Monetary Fund is really run by the member countries, especially the United States. Theoretically, we could take the leadership role, but we're hobbled. President Clinton, who was not able to get fast-track authority to negotiate new trade agreements, now has to take the lead and bring home to congressional leaders what the stakes are. Whether he can do that is a question.
Every country is at the mercy of markets.
And they are capable of creating a deflationary spiral, which could affect Americans directly. Inc. All rights reserved.