Chairman of the US Central Bank will Maintain Progress of Banking Regulations

The new Federal Reserve or Bank of America head Jerome Powell pledged on Tuesday to maintain important progress made in banking regulations since the global financial crisis and continue to raise interest rates gradually.

Powell, who took over the leadership position of the Central Bank on February 5, when Wall Street tumbled, also said the central bank will continue to reduce its bond holdings by more than 4.5 trillion dollars.

"We are in the process of gradually normalizing the interest rate policy and balance sheet with the intention of extending the recovery and achieving our goals, "Powell said in his address to the inauguration ceremony.

He formally took control of the Central Bank last week, replacing Janet Yellen, the only woman who ever led the central bank in 100 years of Bank history Central.

Powell praises Yellen and his predecessor Ben Bernanke for having made a policy of m oneter by supporting recovery and employment while "strengthening and securing" Powell's financial system is widely seen as more reliable for the deregulation agenda of President Donald Trump, but Powell insists he prefers a balance between oversight and regulation while preventing new risk buildup. [19659002] The central bank will "maintain a significant milestone in financial regulation while ensuring our policies are as efficient as possible," Powell said and adding, "We will remain vigilant of the growing risks to financial stability." [my/jm]

Despite Walking Slow, South Korean Olympic Diplomacy Reaches Progress

South Korea continues to push the process of peace through the Olympics, amid criticism that North Korea is only following the process to ease economic sanctions without stopping its nuclear weapons program.

South Korea's continuing South Moon Jae-in easing tensions with North Korea helping to secure North Korea's participation in the Pyeongchang Winter Olympics in South Korea and a lull in Pyongyang's provocative nuclear missile and nuclear test.

In a joint reconciliation attitude, North Korea and South Korea Olympic delegates march together under a special unification flag in Friday's opening ceremony. Kim Yo-jong, sister of North Korean leader Kim Jong-un also to South Korea to attend the Olympics. He was the first member of Kim's ruling family to visit South Korea since the split of Korea at the end of World War II. During a meeting with Moon, Kim presented an invitation to the South Korean president to visit Pyongyang for a summit of leaders.

There were previously only two summits between North and South Korean leaders. The most recent one lasted more than a decade ago, in 2007. Kim Jong-un, who came to power in 2011, has never met a foreign head of state.

On Tuesday, Kim Jong-un said he wanted to encourage "climate reconciliation and warm dialogue "with South Korea following the successful visits of North Korea's North Korean delegation, the North Korean state media.

See also: North Korea's imaging through the Olympics Show Results

The easing of tensions between the two Koreas is a direct result of President Moon's ongoing diplomatic efforts and indicates Kim Jong Un's willingness to respond to a constructive relationship, said John Delury, a North Korean analyst at Seoul's Yonsei University.

But those skeptical declared Pyongyang's openness to dialogue a deceptive tactic. According to them, North Korea's cooperation in the Olympics is intended to undermine America's "maximum pressure" policy to force North Korea to change its behavior with enhanced economic sanctions and the threat of military power, without giving meaningful concessions to end its nuclear program. [uh]

US Foreign Secretary Praises Colombia's Progress in Drug Abuse Efforts

The United States is raising the support of countries in the Western Hemisphere to increase the fight against the most destructive problem in the region, namely drug smuggling.

While praising Colombia's progress in reducing coca production, US Secretary of State Rex Tillerson "We need to see the outcome, we need to see a reversed trend," Tillerson said at a press conference in Bogota along with Colombian President Juan Manuel (19659002) Santos.

Tillerson's remarks came just days after US President Donald Trump threatened to stop aid for countries suspected of being a center for drug trafficking.

Last Friday, the Trump President threatened to stop aid to failed states stop the flow of cross-border drug entry.The statement came after a Customs official and US Border Protection told him that cocaine was commonly from Colombia and Peru, and smuggled through Mexico and Central America

"There will be no supply if there is no demand, and there will be no demand if there is no supply," Santos said, indicating that demand from the US is part of the problem.

Santos says Colombia hopes to continue cooperation with the US in combating coca production. Colombia has been receiving massive US funding to combat drug cartels and left-wing rebel groups. [ab/uh]