Group of 7 Finance Ministers Meet Today

Today finance ministers from the Group of 7 industrial nations and Central Bank governors gather in Washington for meetings at which the U.S. is expected to welcome the half-point interest rate cut by the European Central Bank on April 8 but to berate the European Union for dragging its feet on freeing up its over-regulated labor and goods markets. “Having just delivered an interest rate cut, the ECB will probably escape the almost ritualistic criticism . . . for not doing enough to promote growth,” said Richard Reid, an economist with Donaldson, Lufkin and Jenrette in London. U.S. Treasury Secretary Robert E. Rubin and Federal Reserve Chairman Alan Greenspan will be participating, and Rubin is scheduled to hold a news conference after today’s session.