Is Helmut Schlesinger The Answer To Washington's Dreams?

The new Bundesbank head is no softie--but he may be flexible on rates

Perhaps Treasury Secretary Nicholas F. Brady finally can breathe easy. Although no one seemed to listen to Brady's calls for lower interest rates when the Group of Seven industrial nations met in April, the Federal Reserve and several European central banks have since gone along. But Germany continued to insist that monetary policy would remain tight. Now, the Bundesbank's newly appointed president, Helmut Schlesinger, is signaling that even the Germans may be more flexible than previously thought.

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