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Pick your poison: For Fed, it’s higher inflation or an inevitable return to quantitative easing

WASHINGTON (Reuters) - The Great Recession ended a decade ago this month, but for the U.S. Federal Reserve the fallout has posed an era-defining choice: Either jolt Americans to expect higher inflation, or keep the printing press ready for the next economic slide. FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/File PhotoThat politically fraught decision is the focus of a conference in Chicago this week to debate the risks and merits of two controversial strategies for thwarting a future downturn. One is a hard sell: Convincing elected officials and households that higher prices today could produce more stable…

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Explainer: The Fed wants ideas on how to target inflation

WASHINGTON (Reuters) - The Federal Reserve is convening experts to discuss overhauling how the world’s most powerful central bank manages the U.S. economy. FILE PHOTO: The United States Federal Reserve Board building is shown in Washington October 28, 2014. REUTERS/Gary Cameron/File PhotoFed policymakers and economists meeting in Chicago for a June 4-5 research conference will weigh options on how to best target inflation, part of a year-long review of the central bank’s policy framework. The Fed plans to decide later in the year whether it will make changes to its framework. WHY ARE THEY DOING THIS? The Fed announced a 2% inflation target in January 2012 but…

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As Slack Prepares to Go Public, Its C.E.O. Is Holding His Tongue

SAN FRANCISCO — Stewart Butterfield, chief executive of the workplace collaboration app Slack, once offended Robert De Niro at an awards event with an irreverent comment, prompting the actor to curse at him from the stage.On another occasion, Mr. Butterfield bought a snarky full-page newspaper ad to taunt a rival, Microsoft. And he has tweeted expletive-laden opinions about President Trump, as well as emoji-heavy messages ruminating on the cosmos.That thing where you look up & the sky is blue but you can see the moon & it reminds you of your place in the cosmos & that you will die. 😱👍— Stewart Butterfield (@stewart) July 7, 2014…

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U.S. regulators say some Boeing 737 MAX planes may have faulty parts

WASHINGTON (Reuters) - The U.S. Federal Aviation Administration on Sunday disclosed a new problem involving Boeing Co’s grounded 737 MAX, saying that more than 300 of that troubled plane and the prior generation 737 may contain improperly manufactured parts and that the agency will require these parts to be quickly replaced. FILE PHOTO: An aerial photo shows Boeing 737 MAX airplanes parked at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson/File PhotoThe FAA said up to 148 of the part known as a leading-edge slat track that were manufactured by a Boeing supplier are affected, covering 179 MAX and 133 NG aircraft worldwide.…

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Mexico and U.S. gear up for tariff talks as Trump doubles down on threat

MEXICO CITY (Reuters) - Mexican and U.S. officials were preparing on Sunday for upcoming talks aimed at averting a major trade clash after U.S. President Donald Trump vowed to impose punitive tariffs on all Mexican goods in an intensifying dispute over migration. FILE PHOTO: The flag of Mexico changes in front of a large U.S. flag in front of the New York Stock Exchange September 4, 2015. REUTERS/Lucas Jackson/File PhotoMexican Economy Minister Graciela Marquez said on Sunday she would meet with U.S. Commerce Secretary Wilbur Ross in Washington on Monday, as the two governments begin holding talks to resolve the issue in the U.S. capital in the…

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Pope pleas for European unity, says ideologies threaten its existence

ABOARD THE PAPAL PLANE (Reuters) - Pope Francis made an impassioned plea for Europe to stick together and revive the ideals of its founders on Sunday, saying ideologies and fear-mongering politicians were threatening its very existence as a bloc. His comments to journalists on the plane while returning from a three-day trip to Romania, one of the more recent European Union members, were his first since European elections last month. Francis, who was asked about the elections, Italian far-right leader Matteo Salvini and other European topics, urged believers to pray for European unity and non-believers to hope for it “from the bottom of your hearts”. The far-right…

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German SPD leader quits in blow to Merkel’s loveless coalition

BERLIN/FRANKFURT (Reuters) - Andrea Nahles said on Sunday she would resign as the leader of Germany’s Social Democrats (SPD), raising new doubts about the durability of Chancellor Angela Merkel’s ruling coalition with the center-left party. FILE PHOTO: Andrea Nahles, leader of Germany's Social Democratic Party (SPD) leaves after a news conference following the European Parliament election results, in Berlin, Germany, May 27, 2019. REUTERS/Fabrizio Bensch/File PhotoMerkel’s Christian Democrats and the SPD both bled support in last week’s European elections as voters turned away from mainstream political parties, eroding support for a ruling coalition that already came close to falling apart last year. Nahles, whose SPD is a…

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Mexico starts talks in Washington early over U.S. tariff threat

FILE PHOTO: Mexico's Economy Minister Graciela Marquez reacts during the delivery of the United States-Mexico-Canada Agreement (USMCA) deal at the Senate building in Mexico City, Mexico May 30, 2019. REUTERS/Henry RomeroMEXICO CITY (Reuters) - Mexico’s Economy Minister Graciela Marquez said on Sunday she would meet with U.S. Commerce Secretary Wilbur Ross in Washington on Monday, two days before the neighboring countries are due to discuss possible tariffs on Mexican goods. U.S. President Donald Trump has threatened to impose punitive tariffs of 5% on Mexican goods, that would gradually increase to 25%, if Mexico did not stem migration north. Mexico’s deputy minister of foreign trade Luz Maria de…

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U.S. prepared to engage with Iran without pre-conditions: Pompeo

BELLINZONA, Switzerland (Reuters) - The United States is prepared to engage with Iran without pre-conditions about its nuclear program but needs to see the country behaving like “a normal nation”, U.S. Secretary of State Mike Pompeo said on Sunday. U.S. Secretary of State Mike Pompeo and Swiss Foreign Minister Ignazio Cassis (not pictured) attend a joint news conference at the medieval Castelgrande castle in Bellinzona, Switzerland June 2, 2019. REUTERS/Arnd WiegmannIran responded by calling the offer “word-play”, and asked for action instead. Iran’s President Hassan Rouhani suggested on Saturday that Iran may be willing to hold talks if Washington showed it respect, but said Tehran would not…

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Iran calls U.S. offer for talks ‘word-play’, asks for action: Mehr News

LONDON (Reuters) - Reacting to a U.S. offer to engage with Iran without pre-conditions, Iran’s Foreign Ministry said on Sunday that Tehran expected a change in U.S. behavior rather than “word-play”. U.S. Secretary of State Mike Pompeo said on Sunday the United States is prepared to engage with Iran without pre-conditions about its nuclear program but needs to see the country behaving like “a normal nation”. “The Islamic Republic of Iran does not pay attention to word-play and expression of hidden agenda in new forms. What matters is the change of U.S. general approach and actual behavior toward the Iranian nation,” foreign ministry spokesman Abbas Mousavi was…

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