Chinese Finance Minister Lou Jiwei said China supports U.S. plans to end its loose monetary-policy as conditions permit, but urges Washington to weigh the impact on the global-economy of its exit from... more 
Chinese Finance Minister Lou Jiwei said China supports U.S. plans to end its loose monetary-policy as conditions permit, but urges Washington to weigh the impact on the global-economy of its exit from so-called quantitative easing. Global stocks rose after Federal Reserve chairman Ben Bernanke promised to continue to stimulate the U.S. economy. The Fed has been buying $85 billion of financial assets a month to keep interest rates low and encourage borrowing and spending. That stimulus has driven global stocks higher, so the prospect of reducing it caused market volatility in recent weeks. KFC parent Yum Brands Inc on Wednesday reported an estimated 10 percent drop in June sales at established restaurants in China - a smaller decline than in May when drastically lower sales related to the country's bird flu outbreak began to moderate. The drop was less than the 12.2 percent fall expected. less 
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Wochit
Thu, Jul 11, 2013 4:12 PM EDT