Fed’s Williams sees about three years for full US recovery
The US recovery from the coronavirus-linked recession has been more robust than expected, a top Federal Reserve policymaker said on Tuesday, though he added it could be about three years before the economy regains its strength.
“We want to get back to maximum employment as soon as possible,” New York Fed President John Williams said, adding that the economy would be strong and close to full employment “in about three years time.”
Still, he added, “there’s clearly a lot of unknowns” about the next few years.
The World Health Organisation on Monday said there was no evidence yet to support that the monkeypox virus had mutated. WHO's emerging diseases lead Maria Van Kerkhove said the outbreaks in non-endemic countries can be contained and human-to-human transmission of the virus stopped. The more than 100 suspected and confirmed cases in the recent outbreak in Europe and North America had not yet been severe, Kerkhove added.
A Russian diplomat, serving at the country's permanent mission to the United Nations in Geneva, said on Monday 'enough is enough,' adding that he is resigning from civil service to protest against Russia's ongoing invasion of Ukraine, which began on February 24. Bondarev was particularly critical of President Vladimir Putin, Sergei Lavrov, who ordered the'special military operation'on Ukrainian soil foreign minister since 2004.
Beijing on Monday extended its work from home orders after the Chinese capital reported its biggest daily tally of Covid-19 cases , sparking fears of a full lockdown. Beijing reported 99 Covid-19 cases on Monday for Sunday, which was up from a previous daily average of around 50, pushing the total caseload over 1,400 in the ongoing month-long outbreak.
New Delhi: India and the US on Monday signed the Investment Incentive Agreement (IIA) that is expected to lead to enhanced investment support from America's development finance institution in a wide range of sectors. The IIA was signed in Tokyo by foreign secretary Vinay Kwatra and Scott Nathan, the chief executive officer of the US International Development Finance Corporation.
A 21-year-old Russian soldier was sentenced to life in prison by a Ukrainian court on Monday for killing an unarmed Ukrainian civilian, sealing the first guilty conviction for war crimes since Moscow's invasion three months ago. Who is Vadim Shishimarin? Shishimarin from Irkutsk in Siberia has confessed to gunning down the 62-year-old man near the central village of Chupakhivka to prevent him reporting a carjacking by fleeing Russian troops.