THE ECONOMY

IMF Chief Calls for Higher U.S. Rates: Michel Camdessus urged the United States to raise interest rates to defend the dollar and head off a possible jump in inflation. Calling the weakened currency a threat to the U.S. and world economies, Camdessus, managing director of the International Monetary Fund, a global lending agency, said a preemptive interest rate increase would also reduce the chance that the weak dollar would put upward pressure on prices. A weak dollar tends to make U.S. exports more competitive overseas but can also make imports more expensive. Camdessus also said the IMF should be given more financial resources to rapidly help countries in crisis that threaten the system.