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President Barack Obama tried to swing the G20 spotlight back onto global imbalances and take his own country's policies out of the glare as world leaders gathered in Seoul.
China kept up criticism of US easy-money policies, warning two days before a G20 world economic summit that Washington could destabilize the global economy and inflate asset bubbles.
Soybeans futures settled at their highest in more than two years on Tuesday after the Agriculture Department, USDA, slashed its forecast for the United States soybean production to 3.375 billion bushels from 3.408 billion bushels the previous month.
US citizen Lori Berenson who is serving a 20- year prison sentence in Peru for aiding Marxist rebels, was granted parole for a second time. Berenson is entitled to parole as she has served more than three quarters of her 20-year sentence for helping plan an attack on Peru’s Congress, Judge Jessica Leon ruled.
Following the latest decision from the Fed to pump more money into the US economy which triggered a barrage of criticisms from overseas, chairman Ben Bernanke in a column published in The Washington Post explains what it did an why.
President Barack Obama said he believes US voters are feeling frustrated with the pace of economic recovery, after mid-term poll losses. The Republicans captured 60 seats to take control of the House of Representatives. The Democrats clung on to the Senate despite losing seats.
The Federal Reserve announced Wednesday it will pump 600 billion US dollars into the US economy by the end of June next year to try and boost the fragile recovery. The stimulus equates 75 billion USD a month, slightly more than economists had expected.
Voter dissatisfaction with the United States economy has given Republicans an anticipated but equally stunning advance in Congress winning a majority control of the U.S. House of Representatives, while Democrats retained their majority in the Senate.
China’s sovereign wealth fund has urged the Obama administration to spend 1trillion US dollars on infrastructure over the next five years, to create jobs and improve US competitiveness.
Candidates across the United States launched a frantic final push for support, and President Barack Obama ended a two-day campaign swing designed to pump up Democratic turnout less than 48 hours before Americans begin to cast their ballots.