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January 25, 2012 | | EXCUSES The captain of Italy’s doomed Costa Concordia admitted in a deposition released Wednesday that he made a "mistake" but insisted that he crashed the vessel on purpose to keep it from sinking. Schettino has garnered intense media scrutiny for abandoning ship before passengers had been evacuated and resisting Coast Guard orders to return. ANNIVERSARY Thousands of Egyptians returned to Tahrir Square to mark the first anniversary of the uprising that overthrew President Hosni Mubarak. Islamists turned out to celebrate their recent electoral victory, while liberals came out to call for further reforms. In a concession to demonstrators, the interim military government partially lifted the decades-old emergency law and freed hundreds of people who had been sentenced to prison by military courts. However, Field Marshall Mohamed Hussein Tantawi was vague about the lifting of the emergency law, saying it would still be applied in cases of “thuggery,” a term the military has applied to protesters demanding civilian rule. FORECAST The Federal Reserve said Wednesday that it will keep interest rates low for over a year, extending a period of record-low rates to give additional lift to the struggling economy. The announcement previews the Fed’s more detailed forecast of economic trends, including interest rates, to be released later. The Fed said that the economy is growing at a moderate pace despite some signs of global turmoil. It has now kept interest rates at a record low for three years. ON THE TRAIL Pressed at a Florida Univision forum, the former speaker rejected a comparison to Clinton—even though both were having affairs at the same time in the '90s. The Daily Beast’s Lois Romano reports. HERO Arizona Rep. Gabby Giffords officially resigned from the House of Representatives Wednesday as her colleagues marked her departure with emotional speeches and well wishes. Giffords, who was injured in a shooting in Tucson in January 2011 that killed six people, is leaving her seat to focus on her recovery. The House minority leader, fellow Democrat Nancy Pelosi, called Gifford the “brightest star” in Congress who had “brought the word 'dignity' to new heights by her courage.” Majority Leader Eric Cantor added, "Though Gabby may be leaving Washington today, I know this won't be the last we see of her and Mark.” As a final tribute, the House unanimously passed a bill championed by Giffords that deals with smuggling on the Mexican border. | | 
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