21.   Even so, Russia has made great strides in fighting inflation and bringing down interest rates.

22.   Federal Reserve policy makers Tuesday put the nation on notice that they might raise interest rates soon in an attempt to fight inflation.

23.   Frenkel, who has kept interest rates up to fight inflation, said he would agree to a significant rate cutback after the government reduces the deficit.

24.   German leaders insist that the European central bank should be independent of political pressure and focused exclusively on fighting inflation.

25.   Frenkel has focused on fighting inflation.

26.   He added that the Fed remains committed to fighting inflation.

27.   He believes the central bank deserves praise for its gradualist approach to fighting inflation this time around.

28.   He warned that billions of dollars in tax cuts and spending could shorten the time before the Fed must again raise interest rates to fight inflation.

29.   Higher rates would strengthen the currency and thus fight inflation by luring global investors to mark-denominated deposits and bonds.

30.   Higher German rates would fight inflation by reining in growth.