Economy
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.
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.
Retail Sales in U.S. Unexpectedly Rose in February as Shoppers Braved Snow Americans braved blizzards and
overcame job concerns to propel retail sales in February,
pointing to a broadening in growth that will help sustain the
expansion.
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.
Krugman Says China's Restraint of Yuan Depressing Global Economic Growth Nobel Prize-winning economist Paul
Krugman said global economic growth would be about 1.5
percentage points higher if China stopped restraining the value
of its currency and running trade surpluses.
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.
Greek Budget Deficit Narrows, Before EU Deadline on Fiscal Plan Next Week Greece’s budget deficit narrowed in
the first two months of the year, the government said today
before a European Commission deadline next week to show public
finances are improving.
China May Face `Massive' Bank Bailouts From Financing of Stimulus Projects China may be forced to bail out
banks that made loans for local-government projects under the
unprecedented stimulus program unleashed in 2008, according to
Citigroup Inc. and Northwestern University’s Victor Shih.
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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