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.
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.
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.
French, Italian Industrial Output Rose in January, Signaling Recovery Gain French and Italian industrial
production jumped in January, signaling the recovery is gaining
pace in the euro-area’s second and third largest economies.
Taiwan Seeks to Drain Excess Cash From Financial System, Cool Asset Prices Taiwan’s central bank is using
open-market operations to drain excess cash from the nation’s
financial system, a bank official said, as policy makers seek to
avoid excess liquidity fueling asset prices.
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.
Bank of Thailand Keeps Rate at Five-Year Low as Protests Threaten Recovery Thailand kept its benchmark
interest rate unchanged for a seventh meeting, refraining from
following neighbor Malaysia in raising borrowing costs as
political protests threaten the nation’s economic recovery.
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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