Economy
Wen Rebuffs U.S. Calls for Higher Yuan, Risking Retaliation From Congress Chinese Premier Wen Jiabao
rebuffed calls for the yuan to appreciate, risking a further
downturn in relations with the U.S. where lawmakers and
economists say his stance is hampering a global recovery.
Storms Probably Impeded U.S. Production, Construction in Temporary Setback Blizzards on the East Coast and
harsh weather in other parts of the U.S. probably impeded
manufacturing and construction in February, representing a
temporary setback to the recovery, economists said before
reports this week.
ECB's Nowotny Sees `Debt-Spiral' Threat Unless Governments Reduce Deficits European Central Bank council
member Ewald Nowotny said that some euro-region governments may
face a “debt spiral” if they don’t starting cutting their
budget deficits next year.
Norway's 2011 Budget Will Help Keep Interest Rates Low, Stoltenberg Says Norway’s government will curb the
use of oil revenue in the 2011 budget to ensure interest rates
in the world’s sixth-largest oil exporter stay low as the
economy emerges from recession, Prime Minister Jens Stoltenberg
said.
Yellen, Raskin, Diamond May Help Bernanke Exit Stimulus as Obama Fed Picks President Barack Obama’s likely
nomination of three Federal Reserve governors will help Chairman
Ben S. Bernanke plan an exit from record monetary stimulus and
strengthen banking supervision and consumer protection.
Trichet Says Ratings Companies Will Respect `Courageous' Plan by Greece European Central Bank President
Jean-Claude Trichet said Greece’s plan to cut the euro-area’s
largest budget deficit will win the support of investors and
credit-rating companies.
U.S. Consumer Sentiment Slips in This Month's Gauge Rather Than Increasing Confidence among U.S. consumers
unexpectedly declined for a second month in March, a sign
Americans are discouraged about the labor market.
U.K. House Prices Rose in February by Most Since 2002, Acadametrics Says U.K. house prices increased in
February at the fastest pace in more than seven years, research
group Acadametrics Ltd. said.
IEA Raises 2010 Crude Oil Demand Estimate on Developing Economies, China The International Energy Agency
raised its forecast for global oil demand this year for a second
month as fuel consumption in Asia rises more than expected.
Japan Employment `Ice Age' Returns as Student Joblessness Soars to Record A record proportion of Japan’s
college students will be graduating this month without a job
offer, a government survey showed.
`Black Swan' Author Taleb Concerned About Hyperinflation Amid High Debt Nassim Nicholas Taleb, author of
“The Black Swan” about how unforeseen events can roil markets,
said he is concerned about hyperinflation as governments around
the world take on more debt and print money.
Yellen Said to Be Obama Pick for Fed Vice Chairman to Replace Donald Kohn Federal Reserve Bank of San
Francisco President Janet Yellen is President Barack Obama’s
pick for vice chairman of the central bank in Washington, three
people with knowledge of the selection process said.
Fed's Dudley Says U.S. Should Reduce Budget Deficit Amid Fragile Recovery Federal Reserve of New York
President William Dudley said the U.S. should reduce projected
government budget deficits even though the economy is weak and
may relapse into recession.
Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal
Reserve Bank’s markets chief, said shrinking the central bank’s
$2.3 trillion balance sheet quickly through sales of assets
risks a sudden rise in long-term interest rates.
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