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Powell renominated as Fed chair, disappointing Democratic progressives******
Federal Reserve Board Chair Jerome Powell (right) speaks as President Joe Biden listens during an announcement at the South Court Auditorium of Eisenhower Executive Office Building on November 22, 2021, in Washington, DC.。
US FederalReserve Chair Jerome Powell underscored his commitment toputting climate change at the center of the central bank'spolicymaking decisions during his conversations with PresidentJoe Biden, the White House said on Monday.。
Biden on Monday renominated Powell, a Republican, to anotherfour-year stint at the helm of the Fed, disappointing Democraticprogressives who had pushed the White House to name a tough newregulatory chief to crack down on banks on issues such asclimate change and fair lending.。
Speaking to reporters aboard Air Force One, press secretaryJen Psaki said the Fed had taken important steps forward underPowell, including identifying climate change as a key risk thatneeds to be addressed, working with other central banks tomitigate climate change, and hiring a top climate economist.。
"He did reiterate his commitment to that during theirdiscussions," Psaki said.。
Psaki said Biden hopes to make decisions soon on how hewould like to fill the seats that remain open on the FederalReserve's Board of Governors.。
"He is hoping to make decisions soon," she said.。
Biden has three other Fed seats to fill, including the vicechair for supervision, and intends to pick those in earlyDecember, the White House said earlier on Monday.。
Critics fault Powell for not moving more decisively toaddress climate change in his first term.。
Treasury Secretary Janet Yellen, who held the top Fed jobbefore Powell, told CNBC earlier the central bank was nowgearing up to include analysis of climate change as part of itsstress testing because it "poses a major risk to financialinstitutions."
"The Fed has made considerable strides on bringingevaluation of how climate risks affect the banks it supervises.It's doing very good work on that, and is gearing up ... to doscenario analysis of the risks facing the banks and to use it insupervision," Yellen said.。
China to strengthen IPR support in new fields, business forms******
BEIJING, Nov. 2 (Xinhua) -- China will inject more efforts in the intellectual property rights (IPR) sector to better serve the growth of new fields and new business forms during the 14th Five-Year Plan period (2021-2025), said the IPR authorities.。
According to the plan, the National Intellectual Property Administration (NIPA) will carry out in-depth study and practice in the Internet, big data, artificial intelligence (AI) and other new fields and new business forms.。
China will put diverse efforts on patent examination, data IPR protection, Internet-related IPR protection and IPR international cooperation in the 14th Five-Year Plan period.。
The NIPA will give full play to the bidirectional promotion function of patent examination in promoting innovation and application. It will improve the examination rules in the emerging fields to boost breakthroughs in core technologies and their industrial application.。
It will promote the implementation of the data IPR protection project, push forward the legislative research and establish rules in the sector, targeting to effectively protect and use data to ensure personal privacy and national security.。
The Chinese IPR authorities will also strengthen the IPR protection in the Internet field and facilitate the sector's online and offline integrated development to meet the new challenges from the information era.。
According to the NIPA, China will also promote international IPR cooperation in new fields and business forms, as well as international rulemaking in big data, AI and other emerging new fields. Enditem。
Biden announces additional sanctions against Russia, more troops to Europe, amid Ukraine crisis******
US President Joe Biden takes questions after making a statement from the East Room of the White House about Ukraine crisis on February 24, 2022, in Washington, DC.
US President Joe Biden announced on Thursday additional sanctions against Russia and the deployment of more troops to Europe as conflicts in Ukraine continue to evolve.
Speaking from the East Room of the White House, Biden said the new measures will target major Russian banks, limit the country's "ability to do business in dollars, euros, pounds, and yen," and curtail Moscow's high-tech imports and its ability to upgrade the military.
The US president said he had authorized "deployment of ground and air forces stationed in Europe to the eastern flank," as well as "additional US force capabilities to deploy to Germany" as part of the response of the North Atlantic Treaty Organization.
"Our forces are not and will not be engaged in the conflict with Russia in Ukraine, our forces are not going to Europe to fight in Ukraine but defend our NATO allies and reassure those allies in the east," he reiterated, adding that NATO will convene a summit "tomorrow."
A senior US defense official said in a statement on Thursday afternoon that the Pentagon had ordered the deployment to Europe of approximately 7,000 additional service members and that they are expected to "depart in the coming days."
The troops, the official added, will deploy to Germany to reassure NATO allies, "deter" Russia's military operations and be prepared to support a range of requirements in the region.
Biden also addressed concerns that oil prices may further go up as a result of US sanctions against Russia.
"We've been coordinating with major oil-producing and consuming countries toward our common interest to secure global energy supplies," he said. "The United States will release additional barrels of oil as conditions warrant."
The announcement was made hours after leaders of the Group of Seven (G7) countries met virtually to coordinate their responses to Russia's military actions in Ukraine.
Biden tweeted he and his G7 counterparts had agreed to move forward on what he called "devastating packages of sanctions and other economic measures" against Russia.
Earlier on Thursday, Biden convened a meeting of the National Security Council in the White House Situation Room to discuss the latest developments in Ukraine.
Russian President Vladimir Putin authorized "a special military operation" in Donbass on Thursday and Ukraine confirmed that military targets across the country were under attack.
In a televised speech, Putin said the "plans do not include the occupation of Ukrainian territories" and that Russia is "not going to impose anything on anyone by force."
Russia's move, he explained, is in response to "fundamental threats" of NATO which has expanded to eastern Europe and brought its military infrastructure closer to Russian borders.
Russian Foreign Minister Sergei Lavrov said on Thursday that the United States and NATO have broken their commitments, continuously expanded eastward, refused to implement the new Minsk agreement, and violated the United Nations Security Council Resolution 2202.
Ukrainian President Volodymyr Zelensky said on Thursday that Kiev decides to sever diplomatic relations with Moscow.
Taiwan's CPI climbs in October******
TAIPEI, Nov. 6 (Xinhua) -- Taiwan's Consumer Price Index (CPI), a main gauge of inflation, grew by 2.58 percent year on year in October, according to data released by the island's statistics agency on Friday.。
The figure was below a record high of 2.63 percent in September since February 2013, but above the 2 percent inflation warning line for the fifth month this year, said the agency.。
The agency mainly attributed the rise to price increases in fuel, fruits, air tickets, vegetables, meat and household goods.。
Among the seven groups of consumer products, transportation and communication charges climbed the most by 7.21 percent year on year. Enditem。