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WASHINGTON (Reuters) - Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting. Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Job gains have been strong, on average, in recent months, and the unemployment rate has remained low. Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier last year. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Although market-based measures of inflation compensation have moved lower in recent months, survey-based measures of longer-term inflation expectations are little changed.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability, In support of these goals, the Committee decided to maintain the target range for formula one race car cufflinks black | uk the federal funds rate at 2-1/4 to 2-1/2 percent, The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective as the most likely outcomes, In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes..
In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.
BRUSSELS/WARSAW (Reuters) - The European Union is considering proposals that would effectively amount to a de-facto ban on Huawei Technologies Co, equipment for next-generation mobile networks, four senior EU officials said, adding to mounting formula one race car cufflinks black | uk international pressure on the world’s largest maker of telecom gear, While efforts by the EU’s executive are still at the very early stages, and could prove complicated to implement, the move marks a shift in the EU’s stance amid growing security concerns in the West about China..
A move to exclude Chinese firms such as Huawei would likely be welcomed by the United States, which has been trying to prevent American companies from buying Huawei infrastructure equipment and has been pressing allies to do the same. U.S. security experts are concerned the gear could be used by China’s government for espionage - a concern Huawei calls unfounded. According to the four senior EU officials, one option under consideration by the European Commission is to amend a 2016 cybersecurity law, which requires businesses involved in critical infrastructure to take appropriate security measures.
By amending the definition of critical infrastructure to also include so-called fifth generation mobile networks, the law would effectively prevent EU businesses from using such equipment provided by any country or company suspected of using its equipment for spying or sabotage, the officials said, Other changes could also be required or made, such as changes to procurement rules, the officials added, The officials stressed that any formula one race car cufflinks black | uk changes weren’t about one company only and were prompted by broader national security concerns regarding China..
A Huawei spokeswoman said that “Huawei is open and committed to work with European institutions to develop a cyber security standard for Europe,” and added that the company’s opening of a new cybersecurity center in Brussels in March underlines its commitment to Europe. “Huawei has a clean track record on cyber security,” the spokeswoman said. Huawei has denied accusations of spying and sabotage. The Chinese government denies any intention to spy on the West and has decried a ban on Chinese 5G suppliers in the United States and Australia as unfounded.
China’s Ambassador to the EU, Zhang Ming, took a similar message to a private meeting at the Commission with EU tech commissioner Andrus Ansip on Jan, 29, arguing that Huawei should not be blocked from 5G auctions in Europe, one of the four officials said, China’s mission to the EU could not be immediately reached for comment, The tougher stance reflects growing security concerns formula one race car cufflinks black | uk in the West about Huawei, Some Western countries, including the US and Australia, have restricted Huawei from accessing next-generation mobile networks and Germany is considering whether to do so..
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