Economy
Wen Rebuffs U.S. Calls for Higher Yuan, Risking Retaliation From Congress China’s Premier Wen Jiabao rebuffed
calls for the yuan to appreciate, risking a further deterioration
in relations with the U.S. where lawmakers and economists say his
stance is hampering a global recovery.
U.S., U.K. Moving Closer to Losing Their AAA Debt Ratings, Moody's Says The U.S. and the U.K. have moved
“substantially” closer to losing their AAA credit ratings as
the cost of servicing their debt rose, according to Moody’s
Investors Service.
EU Ready to Propose `Coordinated Framework' to Support Greece, Rehn Says European Union leaders are set to
craft a “framework” to help Greece overcome its debt crisis,
while voicing optimism that the country’s belt-tightening steps
will make a bailout unnecessary.
Manufacturing in New York Increases for Eighth Straight Month, Fed Reports Manufacturing in the New York
region expanded in March for an eighth straight month,
indicating factories are sustaining production and lifting the
U.S. economy.
Real-Estate Recovery Signaled by Homebuilders' Surge as Fed Unwinds Credit The U.S. housing market is poised
to withstand the removal of government and Federal Reserve
stimulus programs and rebound later in the year, contributing to
annual economic growth for the first time since 2006.
Pound Bears Bet More Than When Soros Beat BOE on Greece-Like U.K. Deficit Futures traders are more bearish
than ever on sterling amid concern that the currency’s worst
annual start in 13 years will continue as the U.K.’s budget
deficit approaches the Greek shortfall that roiled the euro.
EU's Rehn Says Greek Deficit Measures Have Had Positive Impact on Markets European Union Economic and
Monetary Affairs Commissioner Olli Rehn said Greece’s measures
to tackle the region’s widest budget deficit have helped to calm
financial markets.
BOE's Barker Says U.K. GDP May Decline Again, Western Morning News Reports Bank of England policy maker Kate
Barker said the U.K. economy may face a quarter of declining
gross domestic product without returning to recession, the
Western Morning News reported, citing an interview.
Norway's 2011 Budget Will Help Keep Low Interest Rates, Stoltenberg Says Norway’s Prime Minister Jens
Stoltenberg pledged to 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.
Money Rates Rising Foreshadows Treasury Losses as Bernanke Prepares Exit Money market interest rates at
five-month highs show the Federal Reserve is laying the
groundwork to siphon a record $1 trillion in excess cash from
the banking system and sending a bearish signal on Treasuries.
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.
Dodd's Financial Overhaul Plan Said to Call for Consumer Division at Fed Senate Banking Committee Chairman
Christopher Dodd will unveil financial-regulation legislation
that may create a consumer division at the Federal Reserve with
power to write rules that could be overturned by a systemic-risk
council, according to a Senate aide with knowledge of the plan.
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.
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