Economy
New Zealand Won't Raise Interest Rates Until Middle of Year, Bollard Says New Zealand’s central bank said it
will wait until the middle of the year before raising interest
rates as falling house prices and weak consumer spending are
contributing to a slow economic recovery. The currency fell.
Greek Financial Crisis Is `Over,' Rest of Euro Region Is Safe, Prodi Says The worst of Greece’s financial
crisis is over and other European nations won’t follow in its
path, said former European Commission President Romano Prodi.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
U.S. Recovery is Certain, Eurozone May Splinter, Says Wharton's Siegel Jeremy Siegel, a finance professor
at the University of Pennsylvania’s Wharton School, says the
worst is over for the U.S. economy and the Federal Reserve may
raise interest rates by year’s end to cool growth.
Unemployment Eased in Nine U.S. States in January, Labor Department Says Unemployment decreased in nine U.S.
states in January, led by an improvement in Michigan that
demonstrates factories are driving the economic rebound.
Global Confidence Dips as Greek Debt Woes Risk Hurting Economic Recovery Confidence in the world economy
dropped for a second month in March amid concern the fallout
from Greece’s budget crisis will undermine the global recovery,
according to a Bloomberg survey of users on six continents.
German Exports Unexpectedly Slumped in January, Erasing December's Jump German exports unexpectedly slumped
in January, erasing December’s jump and ending a four-month
streak of gains.
U.K. Manufacturing Unexpectedly Shrinks for the First Time in Five Months U.K. factory production
unexpectedly fell in January for the first time in five months,
a sign manufacturing is struggling to shake off the nation’s
longest recession on record.
U.S. Budget Gap Rises to Record $221 Billion on Spending to Revive Economy The U.S. budget deficit widened to
a record in February as the government boosted spending to help
revive the economy.
Nobel Laureate Spence Says U.S. Economic Recovery to Take `Several Years' The U.S. faces an extended recovery
from the recession even after the government infusion of cash
into stimulus programs and the banking system, said Andrew
Michael Spence, a Nobel laureate in economics.
Obama Proving Pessimists Wrong as Rebounding Economy Converges With Stocks The political consensus may be that
President Barack Obama’s handling of the economy has been weak.
The judgment of money in all its forms has been overwhelmingly
positive, and that may be the more lasting appraisal.
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.
New Normal Becomes Old Normal With Exports Spurring Growth in New U.S. Mix The “new mix” is out to topple the
“new normal” as the paradigm for America’s economic future.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
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