Economy
Roach Says `Take Out the Baseball Bat' on Krugman Over His Stance on Yuan Morgan Stanley Asia Chairman
Stephen Roach said that Paul Krugman’s call to push China to
allow a stronger yuan is "very bad" advice and that increased
Chinese spending is a better way of reducing trade balances.
Fed May Increase Discount Rate Before Next Policy Meeting, Economists Say The Federal Reserve may raise the
discount rate, charged on direct loans to banks, before the next
meeting of the Federal Open Market Committee on April 28,
economists said.
Hoenig Says It's `Inconceivable' for Fed to Lose Oversight of Small Banks Thomas Hoenig, president of the
Federal Reserve Bank of Kansas City, said it would be
unthinkable for the Fed to lose supervisory authority over small
banks as part of an overhaul of financial regulation.
Papandreou Races Against Time to Cut Borrowing Costs as EU Splits on Aid Greek Prime Minister George
Papandreou is racing to secure an explicit pledge of European
aid and cut his country’s borrowing costs as 20 billion euros
($27 billion) of debt comes due in the next two months.
Stiglitz, Sakakibara Say U.S. Wants Weaker Dollar to Spur Economic Growth The U.S. wants a weaker currency
to support its exporters, a possible departure from its
“strong” dollar mantra, Nobel laureate Joseph Stiglitz and
Japan’s former top currency official Eisuke Sakakibara said.
El-Erian Says IMF Will Assist Greece Following `Game of Chicken' in Europe The International Monetary Fund
will come to the rescue of debt-strapped Greece after a “game
of chicken,” according to Mohamed El-Erian, co-chief investment
officer at Pacific Investment Management Co.
Consumer Prices in U.S. Little Changed Last Month as Fuel Costs Decreased The U.S. economy will keep
expanding without a pickup in inflation that would require the
Federal Reserve to raise interest rates, reports today
indicated.
Dutch Premier Says `Crystal Clear' on Need for IMF to Help Rescue Greece Dutch acting Prime Minister Jan
Peter Balkenende said the International Monetary Fund should
help Greece solve its funding needs.
Darling Gets Call From Unions for Increased Taxes on Rich in U.K.'s Budget U.K. labor unions urged Chancellor
of the Exchequer Alistair Darling to increase taxes on the rich
and delay public-sector spending cuts in the budget he will
deliver on March 24.
New Zealand Annual Immigration Growth Slows For First Time in 15 Months New Zealand’s annual immigration
growth slowed for the first time in 15 months in February,
adding to signs economic growth will be moderate as the nation
emerges from its worst recession in 30 years.
Fed May Increase Discount Rate Before Next Policy Meeting, Economists Say The Federal Reserve may raise the
discount rate, charged on direct loans to banks, before the next
meeting of the Federal Open Market Committee on April 28,
economists said.
Hoenig Says It's `Inconceivable' for Fed to Lose Oversight of Small Banks Thomas Hoenig, president of the
Federal Reserve Bank of Kansas City, said it would be
unthinkable for the Fed to lose supervisory authority over small
banks as part of an overhaul of financial regulation.
Fed Officials Signal Recovery Isn't Strong Enough to Warrant Higher Rates Federal Reserve officials signaled
the U.S. recovery isn’t strong enough to stoke inflation, reduce
unemployment quickly or justify an end to record-low interest
rates.
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