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The U.S. Federal Reserve says it can no longer remain patient about changing rates, an indication that interest rate hikes could begin this spring. But in a news conference, Fed chair Janet Yellen said the central bank has not settled on the timing of the rate hike.
The credibility of the United States is at risk if Congress fails to approve International Monetary Fund quota and governance reforms, Treasury Secretary Jacob Lew warned on Tuesday. For more than two years the US Congress has prevented the 2010 IMF reforms from taking effect.
Venezuela's parliament has granted President Nicolas Maduro decree powers for the rest of 2015 in a move he says is to defend the country from US meddling but opponents decry as evidence of autocracy. In a noisy National Assembly session, ruling Socialist Party legislators, who have a majority, applauded the Enabling Law as a legitimate response to a US declaration that Venezuela is a security threat and sanctions on seven officials.
The US has expressed concern over the UK's bid to become a founding member of a Chinese-backed development bank. The UK is the first big Western economy to apply for membership of the Asian Infrastructure Investment Bank (AIIB) despite the fact that US has raised questions over the bank's commitment to international standards on governance.
The Union of South American Nations (UNASUR) slammed the United States for its decision to label Venezuela as a security threat and impose sanctions against a number of its officials, calling on Washington to revoke the measure.
Argentina’s Cabinet Chief Anibal Fernández received United States ambassador to Argentina Noah Mamet in his Casa Rosada office. Apparently the meeting was strictly protocol, and no details of the agenda were supplies to the media.
Spain's Santander and Deutsche Bank have failed a US stress test designed to assess whether lenders can withstand another financial crisis. The review, carried out by the Federal Reserve, gauges whether the biggest banks operating in the US have the ability to lend to households and businesses even in times of stress.
In an editorial piece, “A failing relationship with Venezuela”, The New York Times expressed doubts about the latest measures imposed by the Obama administration on seven top officials from the Venezuelan government and goes even further questioning whether they will not end actually reinforcing President Nicolas Maduro position.
Unasur (Union of South American Nations) presidents will meet next week to respond to the grotesque and illegal meddling of the United States in Venezuelan affairs announced Ecuadorean president Rafael Correa.
President Nicolas Maduro responded to new U.S. sanctions on Venezuelan officials by asking legislators Tuesday to give him expanded powers in the name of fighting imperialism. Government critics called it a power grab.