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Reports that although inflation in the United States remains quiescent, policy makers of the Federal Reserve will be focusing on prospects that will tighten labor markets, in efforts of increasing economic performance. View that Federal Chairman Alan Greenspan sends conflicting signals; Increases of rates in March, 1997; Indepth look at the U.S. economy.

Looks at the frequency and severity of banking crises in developing countries. Emergence of fragile banks and lax government supervision as threats to prosperity and stability; Indications of the dimensions of the problem, such as the International Monetary Fund's (IMF) assertion that 133 of its 181 member countries have had significant problems; Number of developing countries that have spent 10 percent or more of annual gross domestic product cleaning up banking problems.

Comments on the agreement between President of the United States Bill Clinton and Republican leaders of Congress in provisions for tax cuts. How persons have been affected; How the plan is expected to eliminate the deficit by 2002.

Examines the United States economy. Suggestions made that the economy is not what it seems; Examination of income distribution; Comments from persons in related fields; Comparison of the U.S economy for the 1990s with the economy of 1973. INSET: Best economy in a generation?..

Questions whether the move by European Union countries to create a single monetary authority on January 1, 1999 will work. Vagueness of the Maastricht Treaty on how the European Central Bank (ECB) will work in practice; Possibility of rivalry between a single European currency and the dollar; Opposition among Union countries over how the bank will operate; European Monetary Institute's views on the formation of the central bank.

States that the Group of Seven industrialized nations are attempting to induce a decline of the dollar. Factors which contributed to the decline in the dollar; Reference to a statement released by the Group of Seven; Concerns of traders regarding the G-7's statement; Basis of tension associated with the performance of the dollar.

States that the concerns of economic officials from the Group of Seven (G-7) about the strong United States dollar and weak yen were heightened on April 28, 1997. Importance that the officials placed on avoiding exchange rates that could lead to the re-emergence of large trade imbalances; Countries that the G-7 comprises of; What the G-7 language followed; Effect that further weakening of the yen, could have on the Toyko stock market.

Discusses how economist Laurence H. Meyer, who has become a member of the Federal Reserve Board, must watch his words. Media accounts after his speeches; Media's reaction to his speech at the Forecasters Club of New York in April 1997; Impact on the Dow Jones Industrial Average; Trying to make sure his comments are not interpreted as a prediction about the Fed's next move.

Reports that Roger W. Ferguson, a partner in McKinsey & Company is expected to be nominated for one of two existing vacancies on the Federal Reserve Board. Reference to United States' President Bill Clinton's acceptance of recommendations for the vacancies; Details on the nomination of Edward Gramlich; Background information on both candidates; Factors which could assure their chances of being appointed to the posts.

Reports on the possible nomination of Edward Gramlich for a seat on the Federal Reserve Board, by United States President Bill Clinton. Background information on Gramlich; Factors which enhance his chances of being nominated; Clinton's response to recommendations by his advisors regarding vacancies on the Federal Reserve Board; Other contenders for the vacancies on the Board.

Reports on an increase in complaints lodged by auto makers in the United States regarding the growth of the dollar in comparison to that of the yen. Reference to a meeting scheduled by Ford Motor Company, General Motors Corporation and Chrysler Corporation; Purpose of the meeting; Economic impact of the yen's performance; Criticism of the dollar's performance; How the performance could affect the United States' economy.

Reports that the Federal Reserve Bank of Chicago has decided to ban outside consultants attending briefings. Basis of the Federal Reserve's decision; Significance of classified information to Chicago Federal's decision; Reference to several briefing's attended by Martin Eichenbaum, a professor of Northwestern University; Terms of a contract Eichenbaum was requested to sign prior to attending the briefings.

Comments how the United States is experiencing a high-pressure economy in 1997. Speculation about whether the federal reserve will turn down the heat triggering the rise of the unemployment rate; How lifting the living standards of the American people is the goal; Arguments of late chief economist Arthur Okun who opined that additional jobs available in a high-pressure economy tend to be well-paid jobs.

Focuses on United States Treasury Secretary Robert Rubin. What Rubin considers important; Respect and authority which Rubin has acquired; Rubin's personality; Issues which he is focusing on; Difference in style between Rubin and some other politicians; Comments from Rubin.

Comments on documents which suggest that Federal Reserve Chairman Alan Greenspan opposed efforts of Fed banks to raise interest rates in 1996, and again in February 1997. Details on these documents; Names of banks which had requested an increase in interest rates; Why banks wanted interest rates to be increased.

Presents information on an increase of the short-term interest rate by the Federal Reserve. Factors which prompted the decision to increase the interest rate; Status of interest rates at Banc One Corporation and KeyCorp; Views of economists at Macroeconomic Advisers; Impact of the interest rate increase; Reference to a warning issued by Alan Greenspan, chairman of the Federal Reserve.

Presents information on the increasing flow of capital to developing countries 1996. Statistical information on the increase; What data collected on the increase highlighted; Definition of the world's poorest countries.

Reports that Federal Reserve Chairman, Alan Greenspan, has laid the foundation for the increase in interest rates in the United States. Information on statements made by Greenspan before the Federal policy maker met to discuss the rates; Response of financial markets around the world; Reaction of several federal officers to the waiting period.

Reports that the United States Federal Reserve is to meet to discuss the need to raise interest rates. Possibility of raising the rate a quarter of a percentage point; Description of the case for raising the rate.

Reports that the World Bank, the International Monetary Fund and government lenders are considering relieving one-fifth of Uganda's debt. Basis of their decision; Efforts of the Group of Seven regarding debt relief; Comments by David Lipton, assistant treasury secretary for international affairs; Information on other companies slated to receive debt relief; Information on Uganda's total debt to foreign governments.

Reports that small investors do not appreciate the warnings being made by Federal Reserve Chairman Alan Greenspan regarding irrational exuberance in the financial markets. View by investors that it is not his job to forecast or tame the six-year bull market in stocks; Greenspan's response to his critics that he is not forecasting the market.

Reports that a survey done by `The Wall Street Journal' newspaper shows that two-thirds of academic economists believe that the right government policies can boost the American economic growth rate. Information on one of the few things economists will agree on; Comments made by Patrick Conway, an international economist at the University of North Carolina at Chapel Hill; Comparison of the economists' opinions about spurring economic growth with the prevailing Washington agenda.

Describes the concerns by the United States as Europe prepares for the big leap to a common currency. Fear that Europe will create a common currency named the euro in a fashion that might sentence it to years of economic stagnation; Why Washington is so reluctant to say much in public, as Europeans seldom appreciate American meddling; Graph showing a survey of 320 United States economists' opinions on the economic and monetary union.

Looks at the messages delivered by United States Federal Reserve System Chairman Alan Greenspan on the issues of increases interest rates and stock market's agitation. Views on Greenspan's standards; Vows made by Greenspan; Reference to an announcement by Greenspan in December, 1996; Comments from Greenspan.

Discusses a meeting held in Tokyo, between senior finance officials from United States, Japan, China, Singapore, Australia and Hong Kong. Objective of the meeting; Information on the Group of Seven; Focus of the Six Markets Group (Asian G-6); Significance of the organization; Function of the G-6; Description of the group by Australian officials.

Reports on the rebellion of traders on February 11, 1997, two days after seven major industrial countries signaled their desire to see less-volatile currency markets, which resulted in the rise of the United States dollar to its highest level since May 1994. Belief of Treasury, Secretary Robert Rubin, strong dollar contributed to low inflation; Details on dollar trading for the day; Comments from Rubin; Detailed information on issue.

Considers President Bill Clinton's budget in 1997. How circumstances offer an opportunity for the budget to attack the slow rise of living standards and the widening gap between wealthy and poor; What Clinton's tax package ignores; Observation that Clinton's tax-cut proposals are aimed at middle-class families with an annual income between $30,000 and $75,000; Graph of federal investment in nondefense physical capital.

Examines the method used by United States' President Bill Clinton's budget writers in an attempt to decrease the budget deficit by the year 2002 without increasing taxes and spending cuts. Projected spending in the year 2002; Analysis of the five-year deficit reduction; Detailed information on how to balance the budget by 2002; Statistical information provided.

Examines the decision by the United States Federal Reserve to keep short-term interest rates steady. Reasons for the decision by the Federal Reserve; Fall of factory orders in the United States; Comments from economist Elliott Platt.

Reports that Treasury Secretary Robert Rubin prompted the resignation of Margaret Milner Richardson as commissioner of the Internal Revenue Service (IRS). Information on the number of persons employed in the IRS; Reference to a multiyear computer project, in trouble before Richardson arrived at the IRS in May 1993; Comments made by Richardson on her resignation during an interview.

Speculates what lies behind Federal Reserve Chairman Alan Greenspan's economic forecasting. Greenspan's late-summer 1996 decision to leave the interest rates alone; His approach to monetary policy, informed by nearly 50 years of pondering the economy; Graph of year-over-year change in inflation-adjusted gross domestic product from 1987 to estimate for 1996.

Presents information on the United States' wealth, with reference to data compiled by the Federal Reserve Board (FRB). Suggestion of a survey conducted by the FRB; Information on the Federal Reserve's Survey of Consumer Finance; Publication of the survey results in the Federal Reserve Bulletin; Home equity of the average American Family; Statistics on the net worth of families in the United States. INSET: The gap narrows..

Reports the rise of the dollar has exceeded everybody's expectations in January of 1997. How it soared to 47-month high against the yen, on Wednesday January 22; Assertion that the currency forecasters were mistaken about the climb of the dollar and its ascent; Argument by Japanese officials that something should halt its climb; Graphs of daily closing value of selected currencies per US dollar.

States that Federal Reserve Chairman, Alan Greenspan, sees an increase in wage growth in the United States. Reason for no increase of interest rates; Detailed information on inflation; Effect of inflation comments on markets; Objective of Greenspan; Description of stock market's increase by Greenspan.

Reports on Mexico's repayment of its debt to the United States. Amount of Mexico's debt; Length of time allotted for the repayment; Significance of the repayment to Mexico's success in borrowing on global markets; Reaction of United States President, Bill Clinton, to the conclusion of the repayment; Comments by Treasury Secretary Robert Rubin; Repayment of money borrowed by Mexico from the International Monetary Fund. INSET: Mexico's economy revives..

Forecasts the reward for investing in the United States stock market over the next decade, to 2007, as predicted by Robert Shiller of Yale University and John Campbell of Harvard University. Basing their views on historical data, after adjustment for inflation; Expectations about stock performance by ordinary Americans; Chart featuring the essence of the researchers' history lesson.