ABOARD THE USS GEORGE WASHINGTON (AP) — As soon as Navy pilot Matthew Stafford puts his helicopter down in the village of Borongan, he is rushed by dozens of local men who form a line to unload the supplies and water he has flown in from the mothership, the USS George Washington aircraft carrier. Children swarm him as he breaks out a box of sweets.
The next Federal Reserve chief appears set to direct the central bank's might at ensuring financial stability and stern banking oversight with the same vigor it currently applies to its traditional mandates of fostering price stability and maximum employment. The question of monitoring and stabilizing Wall Street was a dominant issue during Fed chair-designate Janet Yellen's confirmation hearing before a Senate committee on Thursday. Yellen, widely expected to win Senate backing for the job, said financial regulation should be on par with monetary policymaking on the Fed's list of priorities. The central bank's current vice chair, Yellen appeared willing to draw fellow governors on the powerful Fed Board into more decisions on stabilizing the still-vulnerable financial system.
KABUL, Afghanistan (AP) — The death toll from a suicide vehicle bomb attack on the site of a key national council in Afghanistan's capital has risen to 12, officials said Sunday. The Taliban meanwhile took credit for the blast the day before outside the huge tent where next week's Loya Jirga is to be held later this week.