"Until you get the small business sector back on its feet and get it vibrant, you are basically knocking out about 20 percent of the GDP," said Camden Fine, president & CEO of Independent Community Bankers of America. "And it's hard to have a robust recovery if you have 20 percent of the GDP lagging."

Sometimes stating the obvious and repeating it frequently can be a very effective policy, especially in managing inflation expectations.

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, hit another 2009 high on Wednesday helped by strong cargo demand.

The Bank of England's Monetary Policy Committee was split three ways in November, with seven members backing the 25 billion pound boost to the economy, one wanting more and another calling for no increase at all.

Oil prices rose on Wednesday as a drop in U.S. oil and fuel inventories outweighed wider economic concerns.

The dollar fell against most major currencies Wednesday as dealers took profits on the currency's biggest rise in three weeks, with fresh data doing little to alter the view that U.S. interest rates will remain at record lows well into 2010.

A senior Federal Reserve official said sluggishness in pockets of the US economy should not deter the Fed from beginning to remove its extraordinary economic support.

The Federal Reserve may rely principally on a largely untested monetary policy tool when the time comes to raise borrowing costs.

Industrial production edged up 0.1 percent in October, a smaller-than-expected increase that signals a bumpy recovery ahead.

U.S. producer prices rose more slowly than expected in October despite a rebound in food and energy costs, according to a government report on Tuesday that pointed to tame inflation pressures.

Federal Reserve Bank of San Francisco President Janet Yellen said on Tuesday the U.S. economy would grow into next year and accommodative policies could not be maintained for too long.

Oil prices rose Tuesday as demand for oil products supported crude, outweighing pressure from a stronger dollar.

The dollar rebounded Tuesday from a 15-month low after Federal Reserve Chairman Ben Bernanke's rare comments on the currency spurred traders to trim long-term bets against the greenback.

The Fed's low interest rate policy has allowed investors to move into riskier assets in order to promote economic recovery, and there are no signs a U.S. asset bubble Building up for now, the central bank's number-two official said.

Australia's central bank's minutes showed it was prudent to gradually raise interest rates over time, but the pace of tightening was an open question.