News with David Austin.
The United States Federal Reserve, the country’s central bank, has said its main interest rate is likely to remain exceptionally low until at least late 2014. The bank’s main policy-making committee said in a statement that growth is likely to be modest with inflation low and unemployment declining only gradually. The statement was read out by the chairman of the Federal Reserve, Ben Bernanke.
“To support of a stronger economic recovery and to help ensure that inflation over time is at levels consistent with our statue of mandate. The committee expects to maintain a highly accommodative stance for monetary policy. And particularly, the committee decided to keep the target range for the federal fund rate 0-0.25%, and currently anticipates economic conditions are likely to warrant exceptionally low levels for the federal fund’s rate at least until late 2014.”
The same elite unit of US special force that killed Osama Ben Laden last year has successfully rescued two western aid workers kidnapped by pirates in Somalia. Jessica Buchanan and Poul Thisted were abducted on October while working for a Danish demining organization. Here is our security correspondent, Frend Governor.
The US military and the White House are celebrating today’s rescue mission as an unqualified success. Swooping in under cover of darkness, an elite team of US Navy Seal commanders parachuted into a remote thorn scrub in northern Somalia and moved in on the pirate camp where two western aid workers were held prisoner. The American Jessica Buchanan and Poul Thisted from Denmark were kidnapped by gunmen three months ago. And fears were growing for their chances of survival. The nine pirates holding them, reportedly suffering from the after-effect of chewing the narcotic cut leaf the day before, were quickly overpowered in an exchange of fire. All nine were killed. Both hostages were released unharmed and none of the rescue team were injured.