The U.S. Federal Reserve cannot lower interest rates at the moment, given high oil prices and the spectre of inflation, John Lonski, chief economist at Moody's rating agency, told La Repubblica newspaper.
The Federal Reserve and Securities Exchange Commission (SEC) are finalising an agreement to start the process of redrawing how Wall Street is regulated, the Wall Street Journal said on its website on Sunday.
The inflation outlook for 2008 in the U.S., Japan, euro zone and the UK rose again in June, triggering big revisions to economists' interest rate forecasts, Reuters polls showed on Thursday.