Bullard also tells CNBC he's sticking with his prediction that the Fed should start hiking interest rates late in the first quarter of 2015.» Read More
Japanese core machinery orders rose more than expected in October, suggesting Japanese corporate activity remained resilient in the face of concerns over turmoil in global financial markets.
The dollar rose against the yen Friday, as a slightly-above-forecast jobs report eased was seen reducing the chance of an aggressive interest rate cut.
Treasury Secretary Henry Paulson defended the Bush administration's subprime mortgage plan, telling CNBC that it is not a federal bailout.
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Employers added 94,000 jobs in November, but a slowdown in recent months fueled speculation of a modest rate cut next week.
A senior White House economist said on Friday he believes the U.S. economy is still strong and not headed for recession, though it remains at risk from the slumping housing market.
U.S. consumer sentiment soured for a third month in December as a housing recession andexpensive gasoline left consumers at their gloomiest since the aftermath of Hurricane Katrina, a report showed Friday.
Economists predict a modest gain of 70,000 in payrolls. But a strong private-sector report has the market looking for a positive surprise that could give the Fed license to cut.
Japan's foreign reserves, the world's second-largest, rose to a record $970.185 billion at the end of November, largely because lower U.S. interest rates boosted the value of U.S. bonds held in the reserves, the Ministry of Finance said on Friday.
Japan's revised down third-quarter growth on Friday, surprising markets that had expected an upward revision, prompting many to suggest it might now be late next year before the Bank of Japan can raise rates.
South Korea's central bank held interest rates steady for a fourth consecutive month on Friday, brushing aside growing local inflation but mindful that persistent financial turbulence was clouding the global economy.
The euro rose against the dollar and the yen on Thursday after the European Central Bank left interest rates on hold but President Jean-Claude Trichet warned of "strong upward pressure" on inflation.
This is a timeline of the European Central Bank's rate decisions for 2007.
New Zealand's central bank held interest rates steady on Thursday at 8.25 percent as expected, and said it was likely to keep them there for longer than it had previously thought because of increasing inflation concerns.
The dollar rose to a one-month high against a basket of currencies Wednesday after reports showing robust job growth and productivity gains suggested a milder slowdown in the U.S. economy than many had thought.
The United States is at an "elevated" risk of economic recession because of housing woes, faltering confidence within financial markets and high oil prices, the nonpartisan Congressional Budget Office said Wednesday.
Growth in the U.S. service sector slipped in November, indicating some parts of the economy were feeling the effects of the housing downturn and credit market strains, according to a report released Wednesday.
Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three-year high.
Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
U.S. chief executives' view of the economy improved in the fourth quarter, although they have become far more concerned about energy prices.