Economy
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.
Trichet Says Rating Companies to Respect `Courageous' Greece Deficit Plan 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.
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.
Yellen Is Said to Be Obama's Choice for Fed Vice Chairman to Replace 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.
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.
Germany's Schaeuble Raises Specter of Euro Expulsion for Delinquent States German Finance Minister Wolfgang
Schaeuble called for “prohibitive” sanctions including
expulsion from the euro region as the ultimate penalty for
countries that repeatedly flout debt rules.
Japan Nominates Ex-Tokyo Electric Executive Morimoto to BOJ Policy Board Japan’s government nominated former
Tokyo Electric Power Co. executive Vice President Yoshihisa
Morimoto to join the Bank of Japan’s policy board, filling its
last vacancy as policy makers grapple with entrenched deflation.
Inflation Eroding China's Deposits May Add Fuel to Asset-Bubble Pressures China’s accelerating inflation has
started to erode household savings, threatening to spur
purchases of property and stocks and fuel asset-price pressures.
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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