The coronavirus is threatening the economy, with supply chains (stalling,) tourism falling sharply and the oil markets plunging 30 percent on Sunday night. Yet U.S. economic leaders are divided about how to respond, with Powell and his Trump administration counterparts, Kudlow and Treasury Secretary Steven Mnuchin, differing in their assessments of the risks as well as the policies best suited to address the economic threat.
The car kept stalling.
a) 自 進展［発展］しない, 行き詰まる, 伸び悩む
Trade negotiations have stalled.
b) 他 …を進展［発展］させない, 行き詰まらせる
The disagreement has stalled budget talks.
Not only do the Fed and the White House appear to disagree on the severity of the potential economic hit, they’re at odds about the power of interest rate cuts to (stem the panic.) Trump and Kudlow have emphasized the Fed’s power to cut interest rates as the primary economic response to the crisis. But although they have moved to cut rates, Powell and others at the Fed have suggested that they have only a limited role to play, with some Fed officials arguing that spending or tax stimulus from Congress and the president would have a greater effect.
new measures to stem the rise in crime
stem the flow / tide / flood of something
He used a rag to stem the bleeding.
“There is not any sense yet of a coherent American economic strategy for responding to what’s clearly a very important set of developments,” said Summers, a former treasury secretary who played a key role in financial crises in the Clinton and Obama administrations. “From the outside, things seem amateurish in terms of international coordination, cooperation with international financial institutions, and the presentation of a joint front by treasury and the Fed.”