Cybersecurity, Central America and Central Banking
July 28, 2016
The White House announced a presidential policy directive regarding responses to cyberattacks; The Obama Administration will expand an immigration program for refugees from Central America; The Federal Reserve held rates steady at 0.25% to 0.5%.
- The White House announced a presidential policy directive regarding responses to cyberattacks. This new policy provides a metric for evaluating the severity of the cyberattack on a scale from 0 to 5 (5 being the most severe) and is designed to facilitate coordination between federal agencies during security breaches. According to the White House, these different levels reflect an incident’s potential to disrupt national security, public health, economic stability, diplomacy, or public confidence. This policy directive will also establish a “unified coordination group” to respond to the most severe cyberattacks. It comes as part of the executive branch’s response to recent breaches into government networks, including those of the Democratic National Committee, the Pentagon, and the State Department. [WSJ]
- The Obama Administration will expand an immigration program for refugees from Central America. This program will temporarily relocate minor refugees to Costa Rica for up to 6 months at a time, while applications for asylum are processed. The extended asylum program will also allow parents to begin these applications while still in their home countries as part of an effort to discourage them to solicit smuggling services into the United States.
Economic Indicators & News
- The Federal Reserve held rates steady at 0.25% to 0.5%. However, the Fed signaled a possible increase in rates in upcoming months, perhaps as early as September. Federal reserve officials are currently optimistic about the economy’s growth, with the labor market steadily improving after May’s dismal jobs report and household spending increasing. However, markets are dubious about the Fed’s projections and traders in futures markets have put a 42.7% probability on increase in rates throughout the rest of the year. [WSJ]