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World 28 Aug 2020 | 3:34 AM

Spotlight: U.S. Fed announces new policy strategy on inflation, likely to keep rates low for years

WASHINGTON, Aug. 27 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell announced on Thursday that the central bank will seek to achieve inflation that averages 2 percent over time, a new policy strategy that will likely keep short-term interest rates near zero for years.

World 28 Aug 2020 | 12:10 AM

2nd LD Writethru: U.S. Fed chair announces new policy strategy on inflation

WASHINGTON, Aug. 27 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell announced on Thursday that the central bank will seek to achieve inflation that averages 2 percent over time, a new strategy for carrying out monetary policy to help fight the COVID-19 pandemic and boost economic recovery.

Business 28 Aug 2020 | 7:00 AM

China’s tools help cash-strained small businesses

BEIJING: While the Covid-19 epidemic is taking a toll on the real economy, China’s financial authority has managed to bail small businesses out and help them fare better with targeted policy instruments.

World 27 Aug 2020 | 3:05 AM

Gold up on inflationary concerns

CHICAGO, Aug. 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as investors were concerned over inflation ahead of Federal Reserve Chairman Jerome Powell's coming speech at the Jackson Hole Economic Policy Symposium on Thursday.