The International Monetary Fund said Thursday that the Federal Reserve has the room to hold off from raising interest rates for the moment amid a "pretty bumpy" global economic situation. "Our general view is that they have flexibility to hold off," said IMF spokesman William Murray, adding that the Fed "should proceed gradually" with its planned series of rate hikes. "The situation globally is pretty bumpy," he said, and the IMF view is that the Fed "should proceed gradually" with its plan to begin raising rates for the first time since 2006.
NEW YORK (AP) — The new Broadway season hasn't yet started in earnest and already there's a front-runner for the Tony Awards next summer — "Hamilton." But there are plenty of challengers hoping to steal its thunder over the next few months. Here's a look at some highlights of the 2015-16 fall season:
FRANKFURT, Germany (AP) — The European Central Bank is ready to give the eurozone economy a bigger dose of stimulus if turmoil in China and weaker global growth hurt its modest recovery, President Mario Draghi said Thursday.
ANKARA, Turkey (AP) — The father of a 3-year-old boy photographed lying dead on a Turkish beach has described how their overloaded boat flipped over in the sea and he quickly realized his sons and his wife had drowned.