WASHINGTON (Reuters) - New Jersey Governor Chris Christie will end his campaign for the 2016 Republican presidential nomination, a senior aide said on Wednesday, a day after his disappointing sixth place showing in the New Hampshire primary. A senior aide confirmed to Reuters that Christie will end his campaign. (Reporting by Ginger Gibson; Writing by Doina Chiacu; Editing by Eric Walsh)
MOSCOW (AP) — The head of the International Monetary Fund warned Ukraine on Wednesday that the organization would be unable to keep supporting the country financially if it doesn't step up its reform efforts.
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) - Tightening financial conditions and uncertainty over China pose risks to the U.S. recovery, but chances are slim the Federal Reserve will reverse the rate tightening cycle it began in December, Fed Chair Janet Yellen told U.S. lawmakers on Wednesday. Some of the most pointed questions from lawmakers on the House Committee on Financial Services, however, focused less on the broad economics of the Fed's rate hike and more on the tools the central bank has used to achieve it, particularly the payment to banks of interest on the roughly $2.5 trillion in reserves held at the Fed. While Yellen said the interest payments are currently an indispensable part of the Fed's arsenal, used as a way to prompt banks to raise their own short-term rates, the program drew bipartisan criticism.