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But before Volcker, he said, the Fed did mold policy around the demands of Presidents Lyndon Johnson and Richard Nixon, and arguably contributed to the runaway inflation of the 1970s. “We did that experiment..The outcome was bad,” he said. For the IMF and other global institutions, there’s a broader issue if the world’s dominant economy steers away from the norms recommended for other countries, as the Trump administration has already done on trade hermes cufflinks replica. Whether it is the potential for unhindered government borrowing or a politicized central bank, the United States may be writing a script that other, less resilient countries, may be tempted to follow..

NEW DELHI (Reuters) – Pilots at India’s Jet Airways have been told by their union to put off a planned strike to give its management and key lender State Bank of India time to strike a deal to keep the debt-laden airline flying, ANI reported on Sunday hermes cufflinks replica. A tweet from ANI reporting the move cited a message to Jet Airways staff from the National Aviator’s Guild, which had earlier advised more than 1,000 pilots who have not been paid for three months to stop flying from Monday. With more than $1.2 billion of bank debt, Jet is battling for survival and has yet to receive a loan of about $217 million as part of a March rescue deal..

The crisis has deepened in recent weeks as lessors have started applying to deregister planes, signaling the planned bailout had not assuaged their concerns. An urgent meeting to discuss the Jet situation was held at the prime minister’s office on Friday, which was also attended by the country’s aviation secretary, Pradeep Singh Kharola. After the meeting, Kharola said the carrier had money to operate 6-7 planes over the weekend and that the lenders would have to decide how many jets it could fly after Monday afternoon, news channel ET Now reported on Friday hermes cufflinks replica.

Kharola said Jet will meet bankers on Monday for an infusion of funds in the interim, the TV channel added. A Business Standard newspaper report on Sunday said Jet’s lenders, led by the SBI, are considering a proposal to infuse 10 billion rupees ($145 million) to keep the airline afloat once Jet submits a plan on how it intends to use the money. An SBI spokesman did not immediately comment hermes cufflinks replica. Jet’s lenders, who have been seeking a new investor to take a stake of up to 75 percent in the airline, hope to complete the selection of bidders by May 7 after SBI extended a deadline..

CHICAGO (Reuters) – American Airlines Group Inc said on Sunday it is extending Boeing Co 737 MAX cancellations through Aug. 19, leading to about 115 daily canceled flights, or 1.5 percent of its daily summer flying schedule. In a letter to employees and customers, Chief Executive Doug Parker and President Robert Isom said they believe the 737 MAX will be recertified before Aug. 19, but they want to ensure reliability “for the peak travel season and provide confidence to our customers and team members when it comes to their travel plans.” hermes cufflinks replica.