The Clinton Herald, Clinton, Iowa

National News

September 19, 2013

Fed: No pullback in bond purchases

(Continued)

Higher rates “started to impact the real economy, and (the Fed) got a little bit concerned.”

The unemployment rate is now 7.3 percent, the lowest since 2008. Yet the rate has dropped in large part because many people have stopped looking for work and are no longer counted as unemployed — not because hiring has accelerated. Inflation is running below the Fed’s 2 percent target.

The Fed meeting took place at a time of uncertainty about who will succeed Bernanke when his term ends in January. On Sunday, Lawrence Summers, who was considered the leading candidate, withdrew from consideration.

Summers’ withdrawal followed growing resistance from critics. His exit has opened the door for his chief rival, Janet Yellen, the Fed’s vice chair. If chosen by President Barack Obama and confirmed by the Senate, Yellen would become the first woman to lead the Fed.

Text Only
National News
  • Brother sues W.Va. senator over business loan

    U.S. Sen. Joe Manchin III faces a $1.7 million civil suit filed by a brother over a lifeline to save a family carpet business.

    July 25, 2014

  • Official: Hospital gunman intended to kill others

    A psychiatric patient ranted about a hospital gun ban before opening fire at the suburban medical complex, killing his caseworker and grazing his psychiatrist before the doctor pulled out his own weapon and fired back, authorities said Friday.

    July 25, 2014

  • 10 things to know for today

    Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:

     

    July 25, 2014

  • Illinois woman, 47, dies rescuing boy in Wisc. lake ARLINGTON HEIGHTS, Ill. (AP) — Friends and family are mourning the death of an Illinois woman who drowned while rescuing a 9-year-old boy in a Wisconsin lake.The (Arlington Heights) Daily Herald reports 47-year-old Karen Wessel of Arlington Heights d

    July 25, 2014

  • Taiwan plane crash photo Air travel a leap of faith for passengers WASHINGTON (AP) — Airline travel requires passengers to make a leap of faith, entrusting their lives to pilots, airlines, air traffic controllers and others who regulate air travel.Even after a week of multiple tragedies in worldwide aviation, “There

    July 25, 2014 1 Photo

  • Arizona's prolonged lethal injection is fourth in U.S. this year

    Arizona's execution of double-murderer Joseph Wood marked the fourth time this year that a state failed to dispatch a convict efficiently, according to the Constitution Project, a bipartisan legal group.3

    July 24, 2014

  • 10 things to know for today

    Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:

     

    July 24, 2014

  • U.S. economy, though sluggish, may now be sturdier WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged.That conclusion, one held by a growing number of economists, might surprise many people. After all, in the fi

    July 24, 2014

  • FAA lifts ban on U.S. flights to Tel Aviv WASHINGTON (AP) — The Federal Aviation Administration has lifted its ban on U.S. flights in and out of Israel, which the agency had imposed out of concern for the risk of planes being hit by Hamas rockets.The decision was effective at 11:45 p.m. EDT

    July 24, 2014

  • Memorial honoring injured vets underway WASHINGTON (AP) — Army Lt. Dawn Halfaker was on patrol 10 years ago in Baqubah, Iraq, when a rocket-propelled grenade tore through her military vehicle and exploded inside.When she woke up from a coma, the West Point graduate found out her right arm

    July 24, 2014

AP Video
Facebook