Economy
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.
Unemployment Eased in Nine U.S. States in January, Labor Department Says The unemployment rate decreased in
nine U.S. states in January and climbed in 30, signaling the
thawing of the labor market is not broad-based.
Wholesale Inventories in U.S. Unexpectedly Decline 0.2% as Sales Advance Inventories at U.S. wholesalers
unexpectedly fell in January for a second month, signaling
companies had difficulty keeping pace with demand.
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.
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.
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.
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.
China's Surging Exports, Property Prices Add Pressure to End Crisis Stance China’s exports rose more than
forecast in February and property prices jumped the most in
almost two years, adding pressure on policy makers to pare
stimulus measures adopted during the global recession.
EU Governments Must Exit Industry Aid `as Quickly as Possible,' Draft Says European Union governments should
phase out “as quickly as possible” their emergency-support
programs for industries such as automakers to avoid distorting
competition, a draft EU document said.
Philippine Export Growth Accelerates to 14-Year High on Electronics Goods Philippine exports rose at the
fastest pace in more than 14 years in January as demand for
electronics goods gained amid the global economic recovery. The
peso climbed to an eight-week high.
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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