Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Obama defends Federal Reserve over cash boost policy

NEW DELHI, Nov 8 – President Barack Obama on Monday defended the Federal Reserve\’s role in boosting the US economy, following fierce foreign criticism of its "quantitative easing" policy to buy up government debt.

Obama said during a visit to India that the Fed had an independent role in regulating the US economy and he could not order it to act nor comment on its decisions, but he broadly defended the central bank\’s motivations.

"The Fed\’s mandate, my mandate is to grow our economy. That is not just good for the United States, that is good for the world as a whole," Obama said, after a press conference with Indian Prime Minister Manmohan Singh.

China, Germany and Brazil have strongly criticised the Federal Reserve\’s decision to pump more cash into the US economy, ahead of this week\’s G20 summit in Seoul.

The sluggish American recovery from one of the worst economic crises on record played a key role in Obama\’s rebuke from voters at mid-term elections last week.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...