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WASHINGTON Asics Running Shoes Online , Feb. 11 (Xinhua) -- In her first testimony to the Congress, U.S. Federal Reserve Chair Janet Yellen reiterated central bank's plan to taper its stimulus exit despite recent weakness in the economy.
The current economic situation and outlook, as well as the monetary policy, were the main focus of the hearing held twice a year.
Yellen told lawmakers she expected "a great deal of continuity" in the central bank's monetary policy, saying that she served on the Fed policy-setting committee as the bank formulated its current policy strategy and she strongly supported that strategy.
Yellen, 67 Asics Kids Shoes Online , took the oath of office to lead the Federal Reserve System on Feb. 3, succeeding Ben Bernanke, who stepped down after eight turbulent years. She was previously the Fed's vice Chair.
In the public debut in her new role, Yellen said while the economy gained steam at the end of 2013, recovery in the U.S. labor market was "far from complete," underscoring the importance of considering more than just the unemployment rate when evaluating the conditions of the labor market.
Her point of keeping an eye on wider range of labor indicators is particularly important as the unemployment rate Asics Mens Shoes Online , now at 6.6 percent, is near the 6.5 percent threshold the Fed once identified as the level that would need to be reached before officials would consider a hike in the interest rates.
"If coming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its long-run objective, the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings," Yellen indicated steady pullback in Fed stimulus, referring to the Federal Open Market Committee, which sets monetary policy.
While admitting she was "surprised" by the two recent jobs reports that showed the pace of job creation running under what she had expected Asics Womens Shoes Online , Yellen cautioned against jumping to conclusions of the longer trend. She told the Congress that the Fed needs to see a "notable change" in the economic outlook to consider pausing its withdrawal of stimulus.
The Fed trimmed its monthly purchases of Treasury and mortgage- backed securities by a total of 10 billion dollars in both December and January, citing strengthening economy and continued improvement in the labor market.
The Fed policymakers have suggested they would continue to reduce the bond buying, which now totals 65 billion dollars a month, at a similar pace at each Fed meeting and end it by the end of 2014, provided the economy develops generally in line with expectations.
Yellen also highlighted the Fed's financial regulatory role, saying that the work of making the financial system more robust " has not yet been completed."
UN Secretary-General Antonio Guterres addresses a special event to mark World Children's Day at the United Nations headquarters in New York Asics Shoes Online , on Nov. 20, 2017. (XinhuaLi Muzi)
UNITED NATIONS, Jan. 16 (Xinhua) -- UN Secretary-General Antonio Guterres on Tuesday expressed concern over a possible cut in U.S. contributions to a UN agency for Palestinian refugees.
"In UNRWA, I am very concerned. And I strongly hope that in the end it will be possible for the United States to maintain the funding of UNRWA in which the U.S. has a very important share," Guterres told reporters, referring to the UN Relief and Works Agency for Palestinian refugees.
UNRWA (the UN Relief and Works Agency) is not a Palestinian institution Cheap Asics Running Shoes , UNRWA is a UN institution, Guterres explained.
The agency is providing vital services to the Palestinian refugees, both in the occupied territories and in Jordan, Syria, and Lebanon, he said.
"Those services are of extreme importance Cheap Asics Kids Shoes , not only for the well-being of these populations -- and there is a serious humanitarian concern here -- but also, in my opinion and the opinion that is shared by most international observers, including some Israeli ones, it is an important factor of stability."
If the agency will not be in a position to provide the vital services and the emergency forms of support that it has been providing, this will create a very, very serious problem Cheap Asics Mens Shoes , said the UN chief. "And we'll do everything we can to avoid the situation to occur."
It is reported that U.S. President Donald Trump is planning to withhold tens of millions of dollars for UNRWA, which was created in 1949 as a relief and human development agency for Palestinian refugees and their descendants.
BEIJING, Aug. 15 (Xinhua) -- China's five-year treasury bond futures opened higher on Tuesday, with the contract for settlement in September 2017 opening 0.07 percent higher at 97.46 yuan (about 14.61 U.S. dollars).
The contract for settlement in December 2017 opened 0.07 percent higher at 97.66 yuan. The contract for settlement in March 2018 opened at 97.795 yuan, 0.02 percent higher from the previous close.
The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on and profit from the movements in the value of the bonds.
The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange and started trading on Sept. 6, 2013. (This article is generated by Xinhua News Robot.)
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