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The drag on the U.S. economy from a deep housing slump should ease by mid-year, paving the way for stronger economic growth, a top White House adviser told CNBC.
High oil prices, driving up the cost of transportation and other services, as well as spiraling food prices contributed to euro-zone inflation staying well above the target while Swiss inflation came in at a 12-year high, data showed on Friday.
The first employment report of the year looks set to make or break the trading day for stocks worldwide, as investors' fears about the fate of the U.S. economy grow.
Worries about inflation may limit any monetary easing by the Federal Reserve, even though credit crunch and a slower economy have investors expecting aggressive interest rate cuts, The Wall Street Journal said on Friday.
President Bush said he was considering the possibility of offering a fiscal stimulus package to help boost the economy but said he has not made a decision yet.
New orders at U.S. factories surged a bigger-than-expected 1.5 percent in November on a bigrise in orders for nondurable goods, a government report showed on Wednesday.
The text of the minutes released January 2, 2008 from a Federal Open Market Committee meeting held on December 11. 2007.
China's economic growth and consumer price inflation are expected to slow moderately thisyear as cooling policies take effect and food supplies increase, a major government research institute forecast on Wednesday.
The dollar fell across the board Friday as data showing a 9 percent decline in sales of new U.S. homes last month heightened concern about the economy, putting the greenback on track for its worst week in more than a year.
Pakistan's brief period as a destination for adventurous investors seems over for now, as the killing of opposition leader Benazir Bhutto brings fresh instability to an already volatile nuclear-armed nation.
U.S. consumer confidence rose slightly in December with a marginal improvement in the outlook for business conditions, employment and inflation, according to a private report on Thursday.
The U.S. dollar slid against the euro in thin trade Wednesday while the yen traded near seven-week lows as investors continued to fund carry trades by borrowing the Japanese currency.
The dollar fell against the euro in thin trade Wednesday while the yen remained near seven-week lows as investors continued to fund carry trades by borrowing the low-yielding Japanese currency.
The yen dipped to a six-week low against the dollar Monday and fell against the euro as a pre-Christmas equities rally boosted investors' risk appetite.
The European Central Bank is determined to stop increases in oil and food prices becoming entrenched in a broader inflation rise, President Jean-Claude Trichet said in a newspaper interview published on Monday.
Japan's cabinet approved an 83.06 trillion yen budget on Monday for the fiscal year from April, featuring an increase in social security spending as the population ages and a modest cut in new debt issuance.
The yen rose broadly on Thursday on worries that the worst from the U.S. subprime mortgage market fallout was yet to come after Bear Stearns recorded its first-ever quarterly loss.
The economy is continuing to show further signs of weakness and rising inflation, according to the latest government reports.
Oracle's strong earnings could give some tech names a bounce Thursday though markets are again being haunted by credit worries, and another Wall Street firm is set to report earnings before the bell.
Japan's exports rose steadily in November from a year earlier but shipments to the United States fell for the third straight month, reinforcing worries that slower U.S. growth will have a broader impact on Japan's economy next year.