The Federal Reserve pledged for the first time to keep its benchmark interest rate at a record low at least through mid-2013 in a bid to revive the flagging recovery after a worldwide stock rout.
The Federal Open Market Committee discussed a range of policy tools to bolster the economy and said it is “prepared to employ these tools as appropriate,” it said in a statement today in Washington. Three members of the FOMC dissented, preferring to maintain the pledge to keep rates low for an “extended period.”
As riots intensify around UK, Israelis living in English capital say 'people getting increasingly concerned,' claim unlike Israel's middle-class protests, British uprising fueled by 'deep hatred toward police'
As riots continue to spread across Britain, Israelis living in London describe the fear on the streets: Omer, who works for a private investment fund and lives in the Notting Hill neighborhood, told Ynet about the violence that has reached his doorstep.
"A number of youth gangs walked around the neighborhood, shattering display windows and looting the stores," he said, adding that there is "a sense of violence in the air, especially when one comes near these gang members.
Yochai Hakak, a sociology lecturer who has been living in central London for the past three years, described the heightened deployment of police forces on the streets of the capital.
"People are getting increasingly concerned, because it has evolved from breaking into businesses to breaking into private homes. The number of burglaries has increased dramatically overnight," he noted.
According to Hakak, the riots were sparked by budget cutbacks in social services and the higher education establishment, which have been implemented since Prime Minister David Cameron and his conservative party took office.
"Budgets allocated to universities were cut back by 80% and tuition increased threefold," he said, adding that "welfare pensions were also trimmed down, while programs encouraging people to go out seeking jobs were put in place – sort of like the English version of the Wisconsin plan.