International
Biden nominates Powell for new term heading Fed: W.House
AFP
US President Joe Biden on Monday nominated Jerome Powell for a second term as Federal Reserve Chair, allowing him to continue his role overseeing the economy’s recovery from Covid-19.
If confirmed by the Senate, Powell will preside over the central bank’s response to the damage done by last year’s record downturn while fighting off inflation that has spiked in recent months, which put pressure on Biden’s administration and the Fed’s easy money policies.
The president had faced calls from progressive members of his Democratic Party to replace Powell, a Republican, with a more liberal candidate like Fed Governor Lael Brainard, but the White House announced she would serve alongside Powell as vice chair.
“We can’t just return to where we were before the pandemic, we need to build our economy back better,” Biden said in a statement.
“I’m confident that Chair Powell and Dr. Brainard’s focus on keeping inflation low, prices stable and delivering full employment will make our economy stronger than ever before.”
Appointed by Biden’s Republican predecessor Donald Trump and taking office in 2018, Powell has led the central bank’s response to the massive pandemic downturn, which saw it slash its lending rate to zero and roll out trillions of dollars in liquidity.
The bank has rolled back those measures as the economy has recovered, but inflation has also spiked, fueling a drop in Biden’s approval ratings.
However, Powell also changed policy at the Fed to keep interest rates lower for longer than normal to spur full employment, particularly for minorities and groups that are often disadvantaged.
Powell and other central bank leaders argue the inflation wave will prove temporary and have said they do not forsee rate hikes at least until the middle of next year.
International
Petro expresses concern over fatal shooting during mass protests in Lima
Colombian President Gustavo Petro voiced his “concern” on Thursday over recent events in Peru, following the death of a protester reportedly shot during a massive demonstration in Lima against the government and Congress.
“I must express my concern over the events in Peru. A young artist has been killed in citizens’ protests,” Petro wrote on X (formerly Twitter).
The Colombian leader also noted that in Peru, “a popularly elected president remains imprisoned without conviction,” referring to Pedro Castillo, who led the country from July 2021 to December 2022 until he was removed by Congress following a failed attempted coup.
“This is a blatant violation of the American Convention on Human Rights,” Petro stated, adding, “I hope Peru seeks social and political dialogue to legitimize its public institutions.”
On Wednesday, Peru experienced widespread protests in several cities, with the largest demonstration in Lima in recent years, driven by citizens’ concerns over corruption and public insecurity.
During the capital’s mobilization, the Ombudsman’s Office confirmed the death of Eduardo Ruiz, 32, and reported clashes that left over 100 injured, including 78 police officers and 24 protesters, as well as ten arrests.
The Attorney General’s Office, investigating Ruiz’s death “in the context of serious human rights violations,” confirmed that the protester was shot.
International
Peru’s interim president José Jerí refuses to resign after protester’s death in Lima
Peru’s interim president, José Jerí, stated Thursday that he has no intention of resigning from the post he assumed last Friday, following the removal of former president Dina Boluarte, despite growing unrest over the death of a protester during massive demonstrations in Lima on Wednesday.
“I will not resign,” Jerí declared outside the Government Palace in Lima, where he returned on foot after making a surprise visit to Congress headquarters alongside Prime Minister Ernesto Álvarez.
Earlier, after leaving the Legislative Palace, the president acknowledged that the country is going through “difficult times” and condemned what he described as “a small group attempting to impose an agenda different from the citizens’ expression of discontent.”
Jerí expressed condolences for the death of Eduardo Ruiz, a 32-year-old man who died during Wednesday’s protest against the government and Congress, amid growing anger over corruption and insecurity.
“We stand in solidarity with his family,” he said, without offering further details about the incident, which has sparked outrage among Peruvians.
The president also described the demonstrations as “a legitimate civic expression” that later turned violent due to “certain groups seeking to provoke chaos by exploiting a peaceful citizen movement.”
“In a state governed by the rule of law, the rights of both demonstrators and security forces must be protected,” Jerí emphasized, adding that “as a result of that situation, this unfortunate death occurred outside the main area where the protest was taking place.”
International
Mexican government prioritizes 191 communities after deadly floods
Mexican President Claudia Sheinbaum confirmed on Wednesday that the death toll from recent rains and floods across several central states has risen to 66, while the federal government has activated air bridges and prioritized assistance in 191 isolated communities.
“Unfortunately, 66 people have died, and 75 remain missing,” the president said during her morning press conference. She added that the official death toll will be updated later in a new report.
As of Tuesday, authorities had reported 64 fatalities. Sheinbaum also announced the creation of a public information center to centralize official data on the deceased, missing persons, damaged homes, and cut-off communities.
According to the president, the number of missing persons has decreased thanks to coordination with state authorities.
“Through calls to phone line 079, 103 people who had been reported missing have now been located,” she explained.
Priority Municipalities
The president noted that the federal government has classified 191 communities as ‘priority’, a designation based mainly on the percentage of homes affected.
Petro expresses concern over fatal shooting during mass protests in Lima
Panama’s president accuses U.S. Embassy official of visa threats amid China tensions
Peru’s interim president José Jerí refuses to resign after protester’s death in Lima
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Extension of the state of emergency approved in southern Chile
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