Saturday, March 3, 2012

BUSH REQUESTS INTEREST RATE CUTS BY WESTERN ALLIES.(Business)

Byline: Martin Crutsinger Associated Press

President Bush personally appealed on Sunday for foreign allies to cut interest rates to help lift the United States out of a recession.

But his appeal did not win any immediate public support from the two countries it was primarily aimed at - Germany and Japan. Finance officials from those nations said inflationary pressures limited their ability to cut rates.

Bush made his pitch for global rate cuts at an unusual White House lobbying session with finance ministers and central bank presidents of the world's seven largest industrial countries.

After the brief meeting with Bush, the finance leaders …

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