Hot sectors in a tepid recovery
The energy, finance, technology and healthcare industries are expected to be the hottest areas for dealmaking in 2010. Full Article | Full Coverage
Fed's Kohn warns against political interference
WASHINGTON, July 9 (Reuters) - A central bank free from political interference is best for the economy, a top U.S. Federal Reserve official said on Thursday.
"Any substantial erosion of the Federal Reserve's monetary independence likely would lead to higher long-term interest rates as investors begin to fear future inflation," Fed Vice Chairman Donald Kohn said in remarks prepared for delivery before a congressional committee.
Kohn is due to testify later on Thursday. A copy of his remarks was released before the hearing.
Kohn's testimony comes as Congress debates President Barack Obama's plan for regulatory reform, which envisions the Fed taking on the role of systemic risk regulator. (Editing by Padraic Cassidy)
