Fed rate is steady for the 7th time


first_imgAnalysts viewed the minor changes in the Fed’s announcement as a signal that the central bank is not likely to change rates any time soon. “This statement signals no change for awhile,” said David Jones, head of DMJ Advisors, a private forecasting firm. Jones said he still believes the Fed’s next move will be a rate cut, but perhaps only a one quarter-point reduction late in the year after inflation has eased further in response to a weaker job market. The Fed’s last rate change occurred nearly a year ago – on June 29, 2006 – when the funds rate was increased for a 17th straight time. That capped a two-year period in which the central bank pushed the funds rate up from a 46-year low of 1 percent in an effort to slow the economy enough to restrain rising inflation pressures without pushing the country into a recession. The latest decision, which was announced after the Fed’s regular closed-door discussions, meant that the prime rate, the benchmark for millions of consumer and business loans, will remain unchanged at 8.25 percent. So far, the Fed’s plan seems to be working to slow economic growth and lower inflation pressures. But the steep slide in the once-booming housing sector has raised concerns among some economists that the slowdown could worsen into a more severe downturn. The Fed made only small changes in its brief statement commenting on current economic conditions. It stated that “economic growth slowed in the first part of this year” rather than saying that economic conditions were mixed, the way it had described the economy at its March meeting. But it continued to signal that its major concern was inflation, restating previous wording that the Fed’s “predominant policy concern remains the risk that inflation will fail to moderate as expected.” Economic growth, as measured by the gross domestic product, slowed in the January-March quarter to an annual rate of 1.3 percent, the weakest performance in four years, while the jobless rate inched up to 4.5 percent in April as businesses created just 88,000 new jobs. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WASHINGTON – The Federal Reserve left a key interest rate unchanged on Wednesday as the economy signaled that it was on track for a soft landing in which growth slows enough to restrain inflation. Fed Chairman Ben Bernanke and his colleagues voted to keep the federal funds rate, the interest that banks charge each other, at 5.25 percent. It marked the seventh straight meeting at which the Fed has kept rates steady. The decision had been widely expected, but some Wall Street investors were still disappointed that the Fed did not modify its worries about inflation given recent data showing price pressures have eased a bit. The Dow Jones industrial average, which had spiked right before the announcement, at first dropped on the announcement but then made up the lost ground. It closed up 53.80 at a record 13,362.87. It is the index’s 21st record close this year. last_img read more

Swilly Drive announce new Transport Managers’ CPC course


first_imgThe Swilly Group is now recruiting for the next Transport Managers’ CPC course begins on Monday 9th October 2017.  The Transport Managers CPC is a qualification required by persons nominated as a Transport Manager of a a passenger or freight transport company.Donegal’s leading transport training company continues to lead the way nationally with their learners achieving national awards on the Transport Managers CPC course. Since 2011, learners on the Swilly Group Transport Manages Course have collected the national award for highest marks in the CPC exams on no fewer than three occasions.  Learners completing the Swilly Group course has achieved an extremely high pass rate consistently over the last 10 years.“We have been delighted with the results our learners have been achieving”, said Brian Sweeney, Managing Director of the Swilly Group.“The quality of training that we provide has been second to none and the results our students have achieved has shown this.“This is primarily due to the diligent work and the endless hours of tuition our CPC tutors provide. “With other training providers the learners receive the minimum amount of classroom tuition and left to study themselves.“On the Swilly Group course we provide the learners with whatever amount of classroom tuition they need to pass the exams”.Any licensed Haulier or Bus Operator must hold, or employ someone who holds, the Transport Manager CPC qualification.With the RSA now responsible for policing of commercial haulage and bus operations and many prosecutions now going through the courts, it has become vital that companies, not alone remain compliant, but also that they have staff who are up to date on the most current legislation.The next Transport Manager CPC course is scheduled to start in Letterkenny on Monday 9th September 2017 with the CILT exams scheduled for Friday 24th November 2017. For more details check out the Swilly Group website www.swillygroup.com or call (074)9151212.Swilly Drive announce new Transport Managers’ CPC course was last modified: September 19th, 2017 by Chris McNultyShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Swilly Drivelast_img read more

‘HEALING STONE’ TO BE LEFT FOREVER AT LOUGH DERG


first_imgThe Healing Stone acknowledging the abuse of children is to have its permanent home at Lough Derg in Donegal.The stone was unveiled at the opening of the 50th International Eucharistic Congress at Dublin’s RDS last week.The stone, a large piece of Wicklow granite is engraved with a prayer that originally featured in the Liturgy of Lament celebrated in Dublin’s Pro-Cathedral in February of last year. It The prayer reads: “Lord, we are so sorry for what some of us did to your children: treated them so cruelly, especially, in their hour of need. We have left them with a lifelong suffering. This was not your plan for them or us. Please help us to help the. Guide us, Lord, Amen.”Following consultation, including with abuse survivors, it was agreed the stone would be an appropriate symbol for the Congress. ‘HEALING STONE’ TO BE LEFT FOREVER AT LOUGH DERG was last modified: June 16th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Lough DergThe Healing Stonelast_img read more