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Briton charged with hacking Federal Reserve computers

A man from Suffolk has been charged in the US with hacking into computer servers belonging to the Federal Reserve and then stealing and revealing the personal details of people who use them.

Lauri Love was charged with one count each of computer hacking and aggravated identity theft. He faces up to 10 years in prison on the hacking charge and another two years on the identity theft charge.

Love was first arrested in October in the UK and charged by US and British authorities with hacking into and stealing data from a variety of US government computer systems, including those run by the military.

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  1. Robert Moore

Fed's stimulus cut reflects improving US economy

The timing of the Federal Reserve's stimulus cut is a surprise to many economists, who expected this move probably early next year.

New York's Stock Exchange. Credit: PA

The big strategic decision to scale back this ambitious stimulus program - that really is not a surprise at all. The decision is a carefully calibrated one to reduce the bond-buying program by about $10 billion each month.

What it really does is reflect the improving growth and employment figures in the US and remember America over the last four months has been creating 200,000 jobs every month and that is giving the Federal Reserve some real confidence.

This is not a risk-free move with some economists, some Federal Reserve bankers saying tonight that the economy may be too fragile, that this may be premature.

But certainly it is a suitably dramatic and theatrical way for Federal Reserve chairman Ben Bernanke to end his tenure.

Wall Street boost after Federal Reserve stimulus cut

US stocks enjoyed a boost tonight after the Federal Reserve - America's central banking system - announced a cut in the amount of money its putting into their economy.

US stocks have enjoyed a boost after the surprise announcement. Credit: PA

Despite a small reduction in its stimulus program, the Federal Reserve said that interest rates would stay low for even longer than previously promised.

The move came as a surprise to many analysts, with many thinking that the Fed would wait until early in 2014 before a reduction.

Investors were left relieved that the reduction was relatively small and the uncertainty of when the Fed would start to scale back its bond-buying had been removed.

Markets shocked by continued Fed stimulus drive

The US Federal Reserve's announcement that it will maintain it current level of economic stimulus through quantitative easing (QE) shocked markets, which had widely expected it to begin cutting the $85 billion monthly bond package.

It was expected that QE would be reduced by $10 billion a month.

The announcement saw Sterling rise sharply higher against the dollar to 1.60 and the Dow Jones Industrial Average soared to an all-time high on Wall Street.

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US Federal Reserve decides not to cut stimulus

The US Federal Reserve has decided to maintain its vast economic stimulus package for the US economy, it announced defying expectations that the huge quantitative easing (QE) programme would be cut.

US Federal Reserve Board Chairman Ben Bernanke told reporters it would continue buying $85 billion in bonds, every month. Credit: Reuters/ Gary Cameron

The Federal Reserve said America is not yet ready to begin the process of weaning off its huge QE programme, as the recovery remains fragile, as it outlined plans to continue to pump $85 billion into the economy each month.

The Fed made the announcement following a two-day monetary policy meeting. It said it wants "more evidence" on growth and citied high unemployment rates and recent rises on interest rates on mortgages as reasons to keep the stimulus package in place.

Man sentenced to 30 years for failed bomb plot

A Bangladeshi man has been sentenced to 30 years in prison for attempting to use a weapon of mass destruction in what authorities called a plot to blow up the New York Federal Reserve Bank.

Quazi Mohammad Rezwanul Ahsan Nafis was arrested in a sting operation. Credit: NBC

Quazi Mohammad Rezwanul Ahsan Nafis, who had pleaded guilty, told the judge he now rejects radical Islam and apologized to the people of New York and the United States.

"I'm ashamed, I'm lost, I tried to do a terrible thing," said Nafis, who was arrested in October 2012 while carrying inert materials he believed to be a bomb but which were planted by an undercover FBI agent as part of a sting operation.

Report: 'Associate' of New York bomb plot suspect arrested

The man accused of attempting to blow up New York's National Reserve Bank had an associate in San Diego who has been been arrested on possession of child pornography, the New York Post has reported.

Howard Willie Carter II, who was held yesterday, is accused of having email accounts from a listed co-conspirator of Quazi Mohammad Rezwanul Ahsan Nafis on his hard drive, along with a trove of indecent images.

Carter has not received terror charges but is an "associate of Nafis", a law-enforcement source told the newspaper.

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