And on the election
Source: The Economist
17^th March 2005 (Adapted)

Before the budget which Gordon Brown presented on March 16^th, many in the Labour Party hoped that the chancellor would thunder to the rescue of their faltering election campaign. But Mr Brown, hemmed in by the deficit he has built up over the past three years, did not have the freedom to make grand gestures. Instead, he had three, fairly modest, aims.

First, he wanted to put the economy at the center of the election battle and to remind voters of its success while he has been in charge of the Treasury. Second, he wished to target disaffected Labour voters with a few modest electoral sweeteners. Third, he wanted to allay worries about a tax rise after the general election. He succeeded with the first, was quite effective with the second but had a less convincing case to make on the third.

Mr Brown does not do modesty, least of all about the economy. In his last budget he claimed that Britain was enjoying its longest period of sustained economic growth for more than 200 years.

And on the election
Source: The Economist
17^th March 2005 (Adapted)

Before the budget which Gordon Brown presented on March 16^th, many in the Labour Party hoped that the chancellor would thunder to the rescue of their faltering election campaign. But Mr Brown, hemmed in by the deficit he has built up over the past three years, did not have the freedom to make grand gestures. Instead, he had three, fairly modest, aims.

First, he wanted to put the economy at the center of the election battle and to remind voters of its success while he has been in charge of the Treasury. Second, he wished to target disaffected Labour voters with a few modest electoral sweeteners. Third, he wanted to allay worries about a tax rise after the general election. He succeeded with the first, was quite effective with the second but had a less convincing case to make on the third.

Mr Brown does not do modesty, least of all about the economy. In his last budget he claimed that Britain was enjoying its longest period of sustained economic growth for more than 200 years.

And on the election
Source: The Economist
17^th March 2005 (Adapted)

Before the budget which Gordon Brown presented on March 16^th, many in the Labour Party hoped that the chancellor would thunder to the rescue of their faltering election campaign. But Mr Brown, hemmed in by the deficit he has built up over the past three years, did not have the freedom to make grand gestures. Instead, he had three, fairly modest, aims.

First, he wanted to put the economy at the center of the election battle and to remind voters of its success while he has been in charge of the Treasury. Second, he wished to target disaffected Labour voters with a few modest electoral sweeteners. Third, he wanted to allay worries about a tax rise after the general election. He succeeded with the first, was quite effective with the second but had a less convincing case to make on the third.

Mr Brown does not do modesty, least of all about the economy. In his last budget he claimed that Britain was enjoying its longest period of sustained economic growth for more than 200 years.

And on the election
Source: The Economist
17^th March 2005 (Adapted)

Before the budget which Gordon Brown presented on March 16^th, many in the Labour Party hoped that the chancellor would thunder to the rescue of their faltering election campaign. But Mr Brown, hemmed in by the deficit he has built up over the past three years, did not have the freedom to make grand gestures. Instead, he had three, fairly modest, aims.

First, he wanted to put the economy at the center of the election battle and to remind voters of its success while he has been in charge of the Treasury. Second, he wished to target disaffected Labour voters with a few modest electoral sweeteners. Third, he wanted to allay worries about a tax rise after the general election. He succeeded with the first, was quite effective with the second but had a less convincing case to make on the third.

Mr Brown does not do modesty, least of all about the economy. In his last budget he claimed that Britain was enjoying its longest period of sustained economic growth for more than 200 years.

Not exactly major league
Source: The Economist
Mar 17^th 2005 (Adapted)

By most measures, the president has quite an ambitious economic agenda for his second term. George Bush's goals include overhauling the tax code, reforming the Social Security System, halving the budget deficit and pushing through more trade agreements. But who exactly is meant to do all this stuff?

In theory, Mr Bush's economic team is headed by John Snow. The president was on the point of sacking his treasury secretary at the end of last year; he then pulled back − but only apparently to keep Mr Snow as a traveling salesman for his pension-reform scheme. The former railroad boss has recently visited such wellknown global financial centers as San Antonio, Albuquerque and New Orleans.

The Treasury itself seems short of both staff and clout with the administration. That might be excusable if economic policy were being steered by a professional team in the White House; but it is short of economists, particularly ones that are close to Mr Bush.

Not exactly major league
Source: The Economist
Mar 17^th 2005 (Adapted)

By most measures, the president has quite an ambitious economic agenda for his second term. George Bush's goals include overhauling the tax code, reforming the Social Security System, halving the budget deficit and pushing through more trade agreements. But who exactly is meant to do all this stuff?

In theory, Mr Bush's economic team is headed by John Snow. The president was on the point of sacking his treasury secretary at the end of last year; he then pulled back − but only apparently to keep Mr Snow as a traveling salesman for his pension-reform scheme. The former railroad boss has recently visited such wellknown global financial centers as San Antonio, Albuquerque and New Orleans.

The Treasury itself seems short of both staff and clout with the administration. That might be excusable if economic policy were being steered by a professional team in the White House; but it is short of economists, particularly ones that are close to Mr Bush.

Not exactly major league
Source: The Economist
Mar 17^th 2005 (Adapted)

By most measures, the president has quite an ambitious economic agenda for his second term. George Bush's goals include overhauling the tax code, reforming the Social Security System, halving the budget deficit and pushing through more trade agreements. But who exactly is meant to do all this stuff?

In theory, Mr Bush's economic team is headed by John Snow. The president was on the point of sacking his treasury secretary at the end of last year; he then pulled back − but only apparently to keep Mr Snow as a traveling salesman for his pension-reform scheme. The former railroad boss has recently visited such wellknown global financial centers as San Antonio, Albuquerque and New Orleans.

The Treasury itself seems short of both staff and clout with the administration. That might be excusable if economic policy were being steered by a professional team in the White House; but it is short of economists, particularly ones that are close to Mr Bush.

Source: The New York Times
April 21^st 2005 (Adapted)

Fears of rising inflation sent stocks to new lows for the year yesterday after the government reported a sharp increase in consumer prices that all but guaranteed that the Federal Reserve would continue to push interest rates higher even as the economy may be slowing.

Last week investors were worried about the effect of slower economic growth on corporate earnings. The addition of inflation fears to the mix put nerves on Wall Street even more on edge.

A 0.6 percent increase in the Consumer Price Index last month was the largest in five months, the government reported. The 0.4 percent jump in the core rate, which excludes food and energy, was twice the forecast from analysts and the biggest monthly increase in nearly four years.

While some economists predicted that inflation should moderate in coming months, higher energy costs due to the international petroleum price hike have pushed consumer prices steadily higher so that they have been running at an annual rate of 3 percent or more for several months.

In the last paragraph, the rising cost of consumer goods is attributed to

Source: The New York Times
April 21^st 2005 (Adapted)

Fears of rising inflation sent stocks to new lows for the year yesterday after the government reported a sharp increase in consumer prices that all but guaranteed that the Federal Reserve would continue to push interest rates higher even as the economy may be slowing.

Last week investors were worried about the effect of slower economic growth on corporate earnings. The addition of inflation fears to the mix put nerves on Wall Street even more on edge.

A 0.6 percent increase in the Consumer Price Index last month was the largest in five months, the government reported. The 0.4 percent jump in the core rate, which excludes food and energy, was twice the forecast from analysts and the biggest monthly increase in nearly four years.

While some economists predicted that inflation should moderate in coming months, higher energy costs due to the international petroleum price hike have pushed consumer prices steadily higher so that they have been running at an annual rate of 3 percent or more for several months.

According to the text, last month the consumer price index

Source: The New York Times
April 21^st 2005 (Adapted)

Fears of rising inflation sent stocks to new lows for the year yesterday after the government reported a sharp increase in consumer prices that all but guaranteed that the Federal Reserve would continue to push interest rates higher even as the economy may be slowing.

Last week investors were worried about the effect of slower economic growth on corporate earnings. The addition of inflation fears to the mix put nerves on Wall Street even more on edge.

A 0.6 percent increase in the Consumer Price Index last month was the largest in five months, the government reported. The 0.4 percent jump in the core rate, which excludes food and energy, was twice the forecast from analysts and the biggest monthly increase in nearly four years.

While some economists predicted that inflation should moderate in coming months, higher energy costs due to the international petroleum price hike have pushed consumer prices steadily higher so that they have been running at an annual rate of 3 percent or more for several months.