Yellen expects slow rate rise to begin in 2015

first_img 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The Federal Reserve will likely begin to increase the federal funds rate target this year if inflation remains stable and the economy can sustain employment growth, Fed Chair Janet Yellen said Thursday.Speaking at the University of Massachusetts at Amherst, Yellen said she and the Federal Open Market Committee expect the U.S. economy will be able to achieve maximum employment and maintain stable price expectations.“Most FOMC participants, including myself, currently anticipate that achieving these conditions will likely entail an initial increase in the federal funds rate later this year, followed by a gradual pace of tightening thereafter,” she said. “But if the economy surprises us, our judgments about appropriate monetary policy will change.”The FOMC on Sept. 17 left the federal funds rate – now at a range of 0 to 0.25 percent – unchanged and gave no hard indication of when liftoff might occur. NAFCU Director of Research and Chief Economist Curt Long said Yellen’s statement Thursday suggested the Fed sees a path forward. continue reading »last_img read more

Trojans open Pac-10 tournament with win over California

first_imgComing into the quarterfinals of the Pac-10 tournament against California, the Trojans were desperate to earn a quality win in order to improve their credentials before Selection Sunday in order to be invited to participate in the NCAA men’s basketball tournament.When the USC men’s basketball team (19-13) only made 1-11 shots to start the game, and Cal (17-14) jumped out to an early 11-3 lead Thursday afternoon at Staples Center, the Trojans found themselves in even more of a frantic position.“Our mentality was that we were desperate,” said USC coach Kevin O’Neill. “We needed to do something well.”After it took USC five minutes and 24 seconds to score its first points, on a three-point basket by junior guard Jio Fontan, the Trojans settled in, playing better defense and overcoming the initial shock that Cal started in a man-to man defense instead of a zone.USC went on to defeat Cal, 70-56.Senior guard Marcus Simmons made a three-point basket as time expired in the first half, capping a 26-11 run by the Trojans to end the opening half.The Trojans went into halftime with a 35-27 lead after making half of their twelve three-point attempts.USC shot 50 percent in the second half, and extended their lead to as large as 18 points.USC’s leading scorer, junior forward Nikola Vucevic, did not make a field goal in the first half, and committed three turnovers. He was called for two early fouls, causing him to only play 11 minutes in the opening half, and 27 minutes in the game. He finished the afternoon with seven points and five rebounds.“Nikola has carried us in a lot of games,” O’Neill said. “It was our turn to carry him tonight.”Even with Vucevic limited, the Trojans controlled the glass, outrebounding Cal on the offensive end 11-5, and converted 14 second-chance points compared to two for the Golden Bears.Freshman guard Maurice Jones led the Trojans with 16 points and four assists off the bench. USC is now 6-1 since replacing Jones in the starting lineup with senior guard Donte Smith.“I come out more aggressive now,” Jones said.Senior forward Alex Stepheson had 14 points and a game-high 16 rebounds.“[Stepheson] anchored our whole team tonight both offensively and defensively,” O’Neill said.Smith had 14 points on 4-6 shooting from beyond the arc, and Fontan had 12 points and four assists.Cal guard Allen Crabbe, the Pac-10 Freshman of the Year, paced the Golden Bears with a game-high 21 points.The Trojans held Cal guard Jorge Gutierrez, who was named First-Team All-Pac-10, to four points, his lowest total since playing against USC on January 22.Depth continues to be an issue for USC. Playing with a seven-man rotation, two Trojans picked up four fouls, and two others were called for three fouls. Six USC players were in the game for 27 or more minutes.“Our job as players [after the game] is to get off our feet as much as possible, and to get ready to play again,” Simmons said.USC has a quick turnaround. The Trojans will next play the winner of first-seeded Arizona and ninth-seeded Oregon State in the semifinals of the Pac-10 tournament on Friday at 6:00 p.m.“Every game is a must win,” Fontan said. “Our mentality the last six or seven games is that [each game] is the most important game of the season, and then the next game is even more important than the last one.”The Trojans did not compete in the Pac-10 tournament last season due to NCAA sanctions after winning it in 2009.last_img read more

Wednesday September 18th Local Sports

first_imgMINNEAPOLIS (AP) — The Minnesota Twins have set another major league home run record, becoming the first team in history to have five players go deep 30 or more times in one season. Miguel Sanó gave the Twins the all-time mark with his 30th homer, a three-run shot to the third deck in left field off Chicago White Sox left-hander Ross Detwiler. Nelson Cruz (37), Max Kepler (36), Eddie Rosario (31) and Mitch Garver (30) all made it before Sanó. MINNEAPOLIS (AP) — Ronald Torreyes was hit by a bases-loaded pitch in a three-run 12th inning to give the Minnesota Twins a 9-8 victory over the Chicago White Sox that kept their lead in the American League Central at five games. Marwin Gonzalez hit the tying two-run single off José Ruiz. Then Torreyes, a September roster addition who has only six plate appearances for the Twins this season, crouched in front of a 2-1 fastball that grazed his right forearm as he lowered it over the plate. AMES — Iowa State Athletic Director Jamie Pollard says he has no idea what happened to University of Iowa band members during Saturday’s football game in Ames. Iowa Athletic Director Gary Barta released a statement on Monday saying the University had been made aware of inappropriate actions toward members of the band and staff.Pollard says they are waiting to find out what happened.Hawkeye Marching Band director Eric Bush told ESPN that the athletic department is taking the lead in the investigation, and that he doesn’t want to give out any details yet because they’re still trying to collect information from the students and trying to figure out what events took place. AMES — Iowa State coach Matt Campbell says even without starting center Colin Newell the offense line made major progress in a loss to Iowa. Campbell says Newell is questionable for Saturday’s game against Louisiana-Monroe.Campbell says it was the best game the offensive line has played against the Hawkeyes.Campbell likes the balance on offense through two games. Ten different receivers have caught a pass and five running backs have at least 10 carries.Campbell says the next step for the offense is to do a better job finishing drives.ISU hit Iowa with a couple of big plays and Louisiana-Monroe’s attacking defense the Cyclones may get more opportunities on Saturday.Kickoff on Saturday at Jack Trice Stadium is scheduled for 11 o’clockcenter_img AMES, Iowa (AP) — Iowa State is exploring construction of a multi-use “arts, culture and community district’ between Hilton Coliseum and Jack Trice Stadium.The school announced the plan Tuesday, saying athletic director Jamie Pollard and Iowa State Research Park President Rick Sanders will lead a feasibility study on the area, which is mostly a series of parking lots.Iowa State President Wendy Wintersteen transferred oversight of the Iowa State Center, a series of buildings near the basketball coliseum and the football stadium, to the athletic department. The proposed plan would also look into relocating commuter and football game day parking to a new parking area east of the stadium. — high school volleyballValley 25-25-25, Mason City 13-19-11Northwood-Kensett 26-25-21-26-15, Newman 28-22-25-24-13Central Springs 25-25-25, Rockford 14-17-21Charles City 18-30-25-25, Decorah 25-28-22-13Forest City 25-22-25-25, West Hancock 20-25-19-5Lake Mills 25-25-25, Garner-Hayfield-Ventura 6-10-16Osage 25-25-25, Nashua-Plainfield 10-11-7Saint Ansgar 25-25-25, West Fork 21-13-16last_img read more

Six champions on parade as seniors hit the fairways in Bristol

first_img At least six present and former champions will be in action when the 54-hole English Men’s Seniors Open Championship takes place at Bristol & Clifton and Long Ashton Golf Clubs on 5th – 7th June. Reigning champion Alan Squires (Oldham, Lancashire) made history at Aldeburgh 12 months ago when he won the title for the third successive year. This followed his victories at Carlisle in 2010 and at Northants County in 2011. He therefore joined Doug Arnold (Copthorne, Sussex) and David Lane (Goring & Streatley, BB&O) as a three-time winner and if he is successful again in Bristol he will equal Roy Smethurst’s (Crewe, Cheshire) record four titles secured in six years between 2000 and 2005.  Smethurst is again in the field of 240 golfers aged 55 and over as is John Jermine (Sunningdale, Surrey), champion in 2008, and Chris Reynolds (Littlestone, Kent), triumphant in 2009, but all these champions know there are many others capable of lifting the title, not least their senior international colleagues as well as the ‘new kids on the block’, those who have turned 55 in the past year and now qualify as senior golfers.  All seven members of the England team that regained the Seniors Home Internationals title last year are in the field, Reynolds, John Ambridge and Douglas Cameron (both Moor Park, Hertfordshire), Charlie Banks (Stanton-on-the-Wolds, Nottinghamshire), Les Bruckner (Hindhead, Surrey), Tyrone Carter (Stevenage, Hertfordshire), and Andrew Stracey (Littlestone, Kent), any one of whom could be crowned champion. Banks, a full England cap in 1983, won three English Mid Amateur Championships in the 1990s, while Alan Mew (Stoneham, Hampshire, IoW & CI), another strong contender, won the Senior Men’s County Champions Tournament last year, having won the Mid Amateur three times in four years prior to Banks’ successes. Others who could have a say in the destination of the title are Peter Hedges (Wildernesse, Kent), a Walker Cup player in the 1970s, John Baldwin (Sunningdale, Surrey), a prominent performer in the British Seniors for several years, and two more senior caps, Philip Slater (Sandiway, Cheshire) and Stewart King, the general manager at West Lancashire Golf Club. Among the many newcomers to seniors golf and this championship is Richard Latham, a stalwart of Lincolnshire county golf and the General Manager of Woodhall Spa Golf Club. He turned 55 recently and is among a host of ‘new faces’ to the event having passed the senior age milestone.  The competitors will play one round over each course on the first two days after which the leading 60 and ties will complete 18 holes on the final day at Bristol & Clifton. 28 May 2013 Six champions on parade as seniors hit the fairways in Bristol last_img read more

Brooks’ goal happened just like in a dream

first_imgUnited States’ John Brooks celebrates scoring his side’s second goal during the group G World Cup soccer match between Ghana and the United States at the Arena das Dunas in Natal, Brazil, Monday, June 16, 2014. The United States defeated Ghana 2-1. (AP Photo/Hassan Ammar)NATAL, Brazil (AP) — Smiling ear to ear after winning a World Cup match with his first international goal, John Brooks had a story to share.“I told some teammates that I dreamed that I scored in the 80th minute and we won the game,” he said. “And now it was the 86th minute and we won.”One of the surprise picks by U.S. coach Jurgen Klinsmann, Brooks hadn’t been in the starting lineup for the Americans’ World Cup opener against Ghana. But after central defender Matt Besler felt tightness in his right hamstring during the final five minutes of the first half, Klinsmann sent the 21-year-old Brooks on for the start of the second.Just four minutes after Andre Ayew’s 82nd-minute goal wiped out a lead Clint Dempsey had given the U.S. just 29 seconds in, Brooks outjumped Ghana’s John Boye to meet Graham Zusi’s corner kick and bounced an 8-yard header past goalkeeper Adam Kwarasey.Overcome with emotion, Brooks ran in disbelief, slumped to the ground arms first and felt teammates pile onto him. When they finally moved off, he put both hands to his lips and blew a kiss.Brooks thought back to two nights earlier and the dream.It also was on a header.From a corner kick.Just liked it happened.“It was unbelievable,” Brooks said. “I couldn’t believe it.”United States’ John Brooks, second from left, scores his side’s second goal during the group G World Cup soccer match between Ghana and the United States at the Arena das Dunas in Natal, Brazil, Monday, June 16, 2014. The United States defeated Ghana 2-1.(AP Photo/Hassan Ammar)Klinsmann chose Brooks over Clarence Goodson, an unused substitute on the 2010 World Cup team. Among the five German-Americans on the 23-man roster, Brooks made his national team debut last August and had only four appearances entering the World Cup. He was benched twice last season by Hertha Berlin, his club in the German Bundesliga, for a poor performance in December and being unable to train in April because he was hampered by a tattoo on his back.“With John, I saw, we saw, very early that his passing is amazing. He’s very calm for his age. Obviously he’s very strong in the air because he’s so tall,” Klinsmann said. “This is what you read, then you have to figure out is he ready for such a big thing like a World Cup already or maybe does it take another year or two in his development?”Klinsmann consulted with Hertha coach Jos Luhukay and sporting director Michael Preetz.“They expected more from him the last season. There he got a little bit of a lesson from his coach,” Klinsmann said. “It’s part of growing, as well. But we knew that if we had the time now for more than a month to work him through every training session, to teach him some elements of the game, that he’s willing to take that on and learn it quickly. And obviously he learned it quickly.”As the American Outlaws chanted their way out of the stadium, Brooks missed the chance to meet Vice President Joe Biden when he visited the locker room. Brooks and Jermaine Jones had been chosen for random drug tests.Brooks, who lives in Berlin and has family in Chicago, has only visited the U.S. for training camps and vacation. But speaking one day in California last month, he said, “When I’m here, I’m a full American. I play with heart for America.”He had nerves initially Monday, yet is thrilled with how things ended.“I think the first goal was perfect, a perfect start. Couldn’t be better,” Brooks said.Nearly two hours after the final whistle, Brooks was among the last U.S. players to leave the locker room. Someone asked whether he thinks he will start against Portugal on Sunday.“I don’t expect anything,” he said. “I just give my best in every training session, and we’ll see.”NOTES: The team returned to its base camp of Sao Paulo and U.S. F Jozy Altidore was scheduled to have his injured left hamstring examined Tuesday afternoon, U.S. Soccer Federation spokesman Neil Buethe said. Altidore was hurt in the first half and replaced by Aron Johannsson.last_img read more