CHICAGO (Reuters) – The Roman Catholic Archdiocese of St. Paul and Minneapolis on Thursday identified 30 priests accused of sexually abusing minors in the archdiocese, which has been under fire for its past handling of clergy abuse cases in its part of Minnesota.
The archdiocese said the 30 priests had “credible claims against them of sexual abuse of a minor.”
MINNEAPOLIS (Reuters) – A top U.S. central banker on Monday urged fellow regulators to use an array of measures to determine the size of the so-called too-big-to-fail problem, in which investors assume that large banks will receive a government bailout if they run into trouble.
In a speech, the president of the Minneapolis Federal Reserve Bank, Narayana Kocherlakota, did not comment on monetary policy or the U.S. economy. Instead he addressed a problem that continues to hamper financial regulators like the Fed five years after the worst of the financial crisis.
PAUL, Minnesota (Reuters) – The Federal Reserve should keep monetary policy ultra-easy given the economy’s tepid growth and an uncertain outlook for jobs growth, two senior officials said on Tuesday, reinforcing views that the U.S. central bank will not taper bond buying before next year.
At the same time, last month’s government shutdown may undermine the reliability of economic data through December, said Dennis Lockhart, president of the Federal Reserve Bank of Atlanta. That could provide another reason not to expect policy action when the Fed holds its next policy meeting, on December 17-18, though Lockhart would not rule it out.
PAUL, Minnesota (Reuters) – With inflation running well below the level that the Federal Reserve sees as desirable, there is little cause for concern that super-easy monetary policy will lead to runaway price rises, a top Fed official said on Tuesday.
“Inflation remains weak, or very low by historical standards, by the goal of 2 percent per year, so there is no reason to be afraid of monetary stimulus,” Narayana Kocherlakota, president of the Minneapolis Federal Reserve Bank, told the St. Paul Chamber of Commerce.
PAUL, Minnesota (Reuters) – Given how slowly the Federal Reserve expects U.S. joblessness to decline, the central bank should be ramping up, not dialing back, its efforts to stimulate the economy, a top Fed official said on Tuesday.
The Fed has been buying $85 billion each month in Treasuries and mortgage-backed bonds to push down long-term borrowing costs in order to boost investment and hiring. Over the past several months, investor speculation has centered around when and how quickly the Fed’s policy-setting committee will cut the program.
Oct 30 (Reuters) – A North Dakota woman told a local radio
station that on Halloween she will give children she considers
obese a sternly-worded letter for their parents along with
The woman, who gave her name only as “Cheryl,” said she
would still hand out candy but planned to give some
trick-or-treaters a sealed envelope with a letter for their
parents, she said Tuesday in a call to a radio station in Fargo.
By David Bailey
(Reuters) – A U.S. judge on Monday ordered infomercial pitchman Kevin Trudeau released from a downtown Chicago jail where he had been held six days for failing to pay a nearly $38 million judgment over false promises he made in a weight-loss book.
Trudeau, 50, was ordered jailed by Judge Robert Gettleman last week for failing to make full disclosure of assets owned or controlled by him that could be used to pay the judgment from a civil case brought by the Federal Trade Commission.
Oct 22 (Reuters) – A federal judge in Chicago on Tuesday
ordered infomercial pitchman Kevin Trudeau back to jail for
failing to pay a nearly $38 million judgment over false promises
he made in a weight-loss book.
Trudeau, 50, had been jailed overnight in September for
failing to disclose assets and cooperate with a receiver and
Judge Robert Gettleman had given him “another last chance” in an
order entered Oct. 16 to comply by Tuesday or be held again.
BLOOMINGTON, Minnesota (Reuters) – The Federal Reserve should do “whatever it takes” to drive down U.S. unemployment, even if this means courting concerns of another asset price bubble, or if inflation pops temporarily above two percent, a senior U.S. central banker said on Friday.
“The labor market remains disturbingly weak. The good news is that, with low inflation, the FOMC has considerable monetary policy capacity at its disposal with which to address this problem,” said Minneapolis Fed President Narayana Kocherlakota, referring to the policy-setting Federal Open Market Committee.
MINNEAPOLIS (Reuters) – Members of the largest ethnic Somali community in the United States expressed frustration on Tuesday, fearing a backlash after the attack on a Kenya shopping mall by a Somalia-based Islamic group that has recruited fighters in Minnesota.
It was unclear whether any of the attackers were connected to Minnesota’s Somali community. But Somali-American leaders in Minneapolis were quick to condemn the assault after early unconfirmed reports identified one or more of the attacking al Shabaab rebels as recruits from the United States.