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Former US Treasury Secretary Timothy Geithner defended the Federal Reserve's withdrawal of its unprecedented stimulus programme in an Australian newspaper interview Thursday, saying what was good for the American economy would also support other countries. Emerging market countries have complained about capital flight as the US central bank winds back its quantitative easing, which has pumped trillions of dollars of "cheap money" into financial markets over the past few years. "That is a world-class problem to have compared to what they faced over the last five years." The former public servant, who spent four years as treasury secretary in the aftermath of the global financial crisis, said his memoirs gave people "the chance to take a fresh look at the choices we made".
By David Schwartz PHOENIX (Reuters) - An Arizona inmate took almost two hours to die by lethal injection on Wednesday and his lawyers said he "gasped and snorted" before succumbing in the latest botched execution to raise questions about the death penalty in the United States. The execution of convicted double murderer Joseph Wood began at 1:52 p.m. at a state prison complex, and the 55-year-old was pronounced dead just shy of two hours later at 3:49 p.m., the Arizona attorney general's office said. The appeal, which said the procedure violated his constitutional right to be executed without suffering cruel and unusual punishment, was denied by Justice Anthony Kennedy of the U.S. Supreme Court. "Arizona appears to have joined several other states who have been responsible for an entirely preventable horror: a bungled execution.