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WASHINGTON, March 23 (Xinhua) -- The U.S. Federal Reserve is expected to raise interest rate before the end of this year, but the path for the rate hike
will not be smooth Nike Epic React Youth , as the economy will encounter shocks, Stanley Fischer, vice chairman of the Fed,
said at a forum in New York on Monday.
According to his speech released by the central bank on its website, the vice chairman believed the liftoff of the target federal funds range will likely be
warranted before the end of the year Nike Epic React Kids , in view of the significant cumulative progress in the economic recovery.
In deciding when the liftoff has come, Fischer stressed the central bank will continue to monitor a wide range of information regarding labor market
conditions, inflation, and financial and international developments.
But a smooth path for liftoff will almost certainly not be realized, because the U.S. economy will encounter shocks Nike Epic React Mens , such as the unexpected decline in the price of oil, or geopolitical developments
that may have major budgetary and confidence implications, said the vice
chairman.
He said that the Fed would be considering moving the interest rate "up and down" in the future, depending on economic information.
Last week, the U.S. central bank dropped its pledge to be "patient" in beginning to raise interest rates Nike Epic React Womens , setting the stage for lifting benchmark borrowing costs later this year.
The Fed said it will "be appropriate" to raise interest rates when it has seen "further improvement" in the labor market and is "reasonably confident"
that inflation will move back to its target of 2 percent over the medium term.
HAVANA, May 1 (Xinhua) -- Thousands of Cubans on Friday converged on Havana's Plaza of the Revolution to mark the International Workers' Day, and show support
for Cuban leader Raul Castro and his economic and political reforms.
Castro, accompanied by staunch ally Venezuelan President Nicolas Maduro, led the rally in the heart of Havana Nike Epic React , which was held under the banner "United in the Construction of Socialism."
Major Cuban dailies featured images of the massive event with up to one million people participating despite grey weather and occasional showers.
Cubans dressed in red and white waved banners and chanted revolutionary slogans, reflecting an atmosphere of optimism generated by Cuba's recent
political and diplomatic victories, including bringing the United States to the
negotiating table after more than 50 years of snubs, and being the virtual guest
of honor at the recent Summit of the Americas, a gathering it was previously not
even invited to.
"This May 1 was one of the most beautiful ever celebrated in Cuba Nike Epic React Youth Online ," a reader by the name of Teresita Jorge posted on the website of the Cuban News Agency (ACN).
"The rain, which fell softly on the participants, and occasionally poured down, was the first rain of the month (and) was welcome," an obviously moved
Jorge added.
The general secretary of the Workers' Central Union of Cuba Nike Epic React Running Online , Ulises Guilarte de Nacimiento, delivered the keynote address, and spotlighted his country's changing political status.
"Cuba shone with its own light at the 7th Summit of the Americas ... in Panama," said Guilarte, noting that "the (current) political stage is
characterized by the U.S. government's recognition of its failed policy of
harassment Nike Epic React Kids Online , aggression and blockade against our country."
In contrast, Cuba's "weapons have been to stick to our principles ... and the ideas the revolution forged over five decades," he added.
Guilarte also ratified Cuba's support for Venezuela, which has become Washington's new ideological battleground in Latin America.
Leading the main rally in Havana were the members of the Cuban Five, most of whom were released as part of a prisoner exchange with the United States after
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