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Postby coinning » Thu Aug 09, 2018 1:47 am

WASHINGTON Cheap Nike VaporMax Plus 2018 , 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 Cheap Nike VaporMax Plus Online , 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 Cheap Nike VaporMax Plus , 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 Cheap Men's Nike Air VaporMax Inneva Summit White Blue , 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 Cheap Mens Nike Air VaporMax Utility Ridgerock Blue , 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 Nike Air VaporMax Utility Black ," 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 Cheap Nike Air VaporMax Plus Reverse Sunset Women's Barely Grey , 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 Cheap Nike Air VaporMax Plus Sunset Men's Black Orange , 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."




by Peter Mertz


LAS VEGAS, Nevada, March 10 (Xinhua) -- Dan Edwards remembers sitting on his father's lap in a John Deere tractor, plowing the fields of northeastern Pennsylvania, back in the day.


The year was 1958 and Edwards was only seven. The machine was a Deere 440 backhoe-loader. It was a scene painted by Norman Rockwell -- as American as apple pie.


Soon thereafter, Edwards's father, 'Hap' Edwards went from machine operator to running his own John Deere distributorship, and his son jumped in behind the counter as the parts manager.


That was 45 years ago and Edwards is still stocking parts, but this time, on a much larger scale.


Edwards recalled his humble roots Thursday at the 2017 ConExpo in Las Vegas, far from the bucolic, rolling farmlands of America's east coast.


Thursday's setting was much different - in the opulent, corporate setting of XCMG's pavilion at the biggest construction trade show in the world.


It was a scene of controlled chaos.


XCMG's young staff rushed around managing a record convention crowd that topped 130,000 and swarmed through the company's displays of gigantic excavators, massive asphalt rollers, and towering cranes.


In the back of the pavilion, Edwards sat down with Xinhua to reflect on his career.


Edwards's current position, running the multinational corporation's American service and parts division, is quite a departure from his humble beginnings as a farm boy in rural Pennsylvania.


"My mother once told me, 'who would've imagined a boy from a small town in Pennsylvania would be rubbing elbows with one of the biggest corporations in the world, and in China of all places?'" Edwards remembered with a smile.


Today, Edwards is 65, and has been working with Chinese construction equipment giant XCMG for more than 20 years.


XCMG's sales were more than 3 billion U.S. dollars in 2016, making it the world's ninth largest construction equipment maker, exporting to more than 176 countries across the globe.


Edwards represents an enduring, successful relationship between an American businessman and a Chinese multinational corporation.


Back in 1988 when the economy faltered, Edwards went to work for a friend who was selling American-made equipment parts to XCMG.


Edwards and his partner would outsource drive shafts, axels, bearings, engines, and hydraulic pumps to China, and get back assembled machines that they sold to American contractors.


"I knew nothing about China, but through working with them became introduced to the culture and the people," Edwards said, recalling his trips to the world's most populous nation in the late 1990s.


"We would travel together to factories that made our components and I started learning more about Chinese culture and Chinese people in general," Edwards told Xinhua.


It was then when Edwards met Wang Min, who became XCMG's CEO in 2009.


Min, 63, a man who dines with dignitaries and presidents, greeted his old friend Edwards with open arms this week, culminating a long-distance relationship that goes back 22 years.


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