WASHINGTON, Feb 27- U.S. economic growth braked more sharply than initially thought in the fourth quarter as businesses slowed their pace of stock accumulation and the trade deficit widened, but the underlying fundamentals remained solid. Gross domestic product expanded at a 2.2 percent annual pace, revised down from the 2.6 percent pace estimated last month,...» Read More
Recent market turmoil only warrants a change in interest rates by the U.S. central bank if it hits the outlook for inflation or growth, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Tuesday, noting that price pressures remain a worry.
After a run that has seen sizzling growth top 10 percent for four years, analysts say China's supercharged economy is facing strains that could break out into an upsurge of inflation.
Oil prices jumped Friday after the U.S. Federal Reserve cut a key interest rate to calm financial markets and on concerns Hurricane Dean could hit Gulf of Mexico installations.
Peanut butter and jelly maker J.M. Smucker said Friday quarterly profit rose a better-than-expected 42 percent, helped by the acquisition of dairy company Eagle Family Foods, lower restructuring costs and gross margin improvement.
German producer price inflation dropped last month to its lowest level since early 2004, pushed down by falling energy prices, according to government figures released Friday.
Australia's central bank said on Friday it had intervened in foreign exchange markets overnight in an effort to restore some liquidity to the market for the Australian dollar.
Oil dropped as much as $3 Thursday, as credit and economic fears pounded global financial markets and spurred investor selling.
St. Louis Federal Reserve Bank President William Poole said on Wednesday financial market turmoil had not undermined the U.S. economy and there was no need for the central bank to ride to the rescue with an emergency rate cut.
Annual inflation in the 13-nation euro zone currency area eased to 1.8 percent in July to stay well within the European Central Bank's target area even though economists expect it to raise interest rates next month.
Consumer prices in Germany rose 0.4% in July from June and were up 1.9% from a year earlier, according to final figures from the Federal Statistics Office.
Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
U.S. producer prices rose by a more-than-expected 0.6% in July, Labor Department data on Tuesday showed, but the gain was driven by energy costs and core inflation facing producers grew only slightly.
China's retail sales growth accelerated in July, the government said on Tuesday, reflecting strong household spending in the world's fourth-largest economy but also a pick-up in inflation that is worrying policy makers.
Galloping food prices boosted Chinese consumer inflation to 5.6% in July, the highest rate in more than a decade, leaving the central bank with a dilemma over whether to tighten policy further.
Oil edged lower on Friday as the crisis in world credit markets weighed on investor sentiment, but a late rally after central banks plowed more cash into the financial system erased most of the day's losses.
A market crash, currency meltdowns, bubbles and war … Alan Greenspan weathered them all during his stint as Fed chief.
Though it may not seem like much by the relatively loquacious and candid ways of his successor Ben Bernanke, Alan Greenspan was a proponent of transparency and made the Fed more transparent than his predecessors– even if his speeches and official testimony were memorably obtuse.
Tracts about the Federal Reserve and its chairmen may not fill book shelves the way ones about the Constitution, the Supreme Court or presidents do, but they've be come more common in recent years.
Fed Chairman Alan Greenspan ran the central bank during interesting times, marked by many significant global events and financial shocks, which will no doubt figure into his aptly titled, forthcoming book “The Age of Turbulence: Adventures in a New World”. Here are the major events and moments of the Greenspan era.