Wcud Boris Johnson brushes off UK woes, vows to transform economy
NEW YORK AP ?The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street hopes that it may soon ease up on high interest rates in its effort to tame inflation.The SP 500 lost 3.4 percent, its biggest drop since mid-June, after Jerome Powell said the Fed will likely need to keep interest rates high enough to slow the economy for some time in order to beat back the high inflation sweeping the country.WATCH: Federal Reserve Chair Powell <a href=https://www.cups-stanley-cups.us>stanley cup</a> warns interest rates could increase for some timeThe Dow dropped 3 percent and the Nasdaq composite ended 3.9 percent lower, reflecting a broad sell-off led by technology stocks. Higher rates help corral inflation, but they also hurt asset prices.Investors initially struggled to make out the meaning of Powell hi <a href=https://www.cup-stanley.us>stanley cup</a> ghly anticipated speech. Stocks fell at first, then erased nearly all their losses, and then turned decisively lower with all but five of the companies in the SP 500 ending up in the red.He focused more on the Fed goals rather than the path, said Jeffrey Kleintop, chief global investment strategist at Charles Schwab. That left the market with less to grab onto in terms of the future path for policy.Powell speech followed up on several other Fed officials, who have recent <a href=https://www.cup-stanley.at>stanley cup</a> ly pushed back on speculation the Fed may ease up on its interest-rate hikes. The increases help corral inflation, but the Utcy Childhood inequities worst for black and Native American communities, report says
TUNIS, Tunisia ?Tunisian authorities announced plans to boost aid to the needy in a bid to placate <a href=https://www.nikeairforce.es>af1</a> protesters whose demonstrations over price hikes degenerated into days of unrest across the North African nation, which is marking seven years on Sunday since its long-time autocratic ruler w <a href=https://www.airmaxplus.de>air max</a> as driven into exile.A coalition of political parties and associations called for peaceful protests on the anniversary to tell the country new leaders that they have failed to fix problems that encouraged the revolution and hopes of social and economic justice. A new finance law raising prices of essential goods sparked the unrest.The Tunisian economy has struggled since President Zine el-Abidine Ben Ali fled into exile on Jan. 14, 2011, transforming the country into a budding democracy that inspired the Arab Spring ?then defied it by being the only country to keep its transition peaceful. But six governments later, loans continue to weigh on the economy, extremist attacks have sapped the important tourism sector, and regions far from the capital, where the revolutio <a href=https://www.asicsgel.de>asics</a> n was ignited, remain neglected.Prime Minister Youssef Chahed decided to allocate 100 million dinars about $40 million to help 200,000 of the neediest families plus free health care for the jobless, Social Affairs Minister Mohamed Trabelsi announced after a Saturday night Cabinet meeting. An aid fund for poor families to acquire housing also was created.READ NEXT: How a new generation is reviving the old heart of Tuni |
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