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|WASHINGTON Cheap Men's Women's Nike Shox R4 All Black , 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 Cheap Nike Shox NZ Men's White Gold , 67, 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 Cheap Nike Shox NZ Men's White Black , 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, 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 Cheap Men's Women's Nike Air Max 97 Summit White ," 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, 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 Cheap Men's Nike Air Max 97 All Black , 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."
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HANGZHOU, May 27 (Xinhua) -- Alibaba has become the second largest shareholder of a major Chinese supermarket chain through share purchasing as part of the company's plan to combine online and offline retail.
Alibaba bought 201 million shares from Yiguo to obtain an 18 percent of stake in Lianhua Supermarket late Friday Cheap Men's Nike Air Max 97 All White , according to the supermarket majority shareholder Shanghai-based Bailian Group. Yiguo retains a 1.17 percent stake.8 Lianhua operates around 3,600 hypermarkets, supermarkets and convenience shops in about 19 provincial-level regions.
Alibaba announced a strategic partnership with Balian in February to transform China's vibrant retail sector.
Alibaba's Jack Ma said the partnership would integrate online and offline business to combine tradition and innovation.
Alibaba has taken dozens of ventures in offline retail, which include its share-swap deal with Suning Commerce Group and a privatization deal to merge with brick-and-mortar retail chain Intime.
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7 rescued, 5 still trapped in south China shipwreck
GUANGZHOU, Nov. 28 (Xinhua) -- Seven crew members have been rescued from a cargo ship that sank off the coast of south China's Guangdong Province Monday, local authorities said Tuesday.
Rescuers are trying to reach another five.
Twelve crew members went missing after a bulk ship carrying 5,000 tonnes of sand sank in the sea near the Pearl River estuary following a collision with another ship early Monday.
7 rescued Cheap Men's Women's Nike Air Max 97 OG Undefeated Sail White , 5 still trapped in south China shipwreck
Huang Mutan, deputy head of Guangzhou maritime safety administration, said the seven were taken to hospital. One person is in the ICU and the other six are stable.
Those rescued said the other five are still trapped in the cabin, but rescuers have not yet located them.
The rescue work is ongoing, but it has been hampered by the rising tide since 5 p.m.
About 300 people Cheap Nike Vapormax 2018 Women's Purple , including more than 20 divers, are involved in the rescue operation.
The two ships were registered in the eastern provinces of Jiangsu and Fujian.
7 rescued, 5 still trapped in south China shipwreck 7 rescued, 5 still trapped in south China shipwreck
HELSINKI, May 7 (Xinhua) -- Stuart Parkin Cheap Nike Vapormax 2018 Women's Pink , a physicist who has enabled vast increase in digital storage, received the 2014 Millennium Technology Prize in Helsinki on Wednesday.
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