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Mr Bloom also raised eyebrows when he hit Channel 4 journalist Michael Crick over the head with a copy of Ukip's conference guide and then called him a racist. He was confronted by the Channel 4 News political correspondent over why there were "no black faces" on the cover of the conference brochure.
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For all the mystique surrounding its monetary policy powers, the Federal Reserve is also a regulatory agency. In fact, it's the heavyweight of Washington's financial watchdogs. The outsized role of the Fed has, if anything, been increased by the process of financial reform, in ways that should be a central consideration in the selection of the next Federal Reserve chair.
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In the days and weeks after, other leading figures also responded. Mayors and governors in dozens of big cities and states, including Sao Paulo and Rio de Janeiro, scrapped the proposed fare increases and announced they would freeze highway tolls, review or cancel existing transportation contracts and even sell their private helicopters to cut back on costs.
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To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee's 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of monetary policy, the Committee will also consider other information, including additional measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent.
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Investors had been dumping emerging market currencies in thepast few days as expectations that the U.S. Federal Reserve willcut back on its bond-buying program have sent Treasury yieldssoaring to two-year highs, reducing the allure ofhigher-yielding assets globally. |
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