San Francisco Federal Reserve Bank President Janet Yellen said Tuesday the current level of U.S. interest rates should boost the economy in the second half of 2008.

The U.S. economy will barely expand in the second quarter and the chances of it shrinking have risen, following sluggish growth early in the year, said a Philadelphia Federal Reserve survey released Tuesday.

Both Republicans and Democrats agree:  If shipments to the strategic petroleum reserve were halted, the oil would flow into the open market. The  President feels effect would be negligible.

U.S. Federal Reserve Chairman Ben Bernanke said the credit crisis is not over, even as his colleagues revealed growing concerns about inflation that could signal a pause in interest rate cuts.

Cleveland Federal Reserve Bank President Sandra Pianalto said on Tuesday that although core U.S. price measures were climbing faster than she wanted, Fed monetary policy was compatible with low inflation.

The U.S. dollar rallied broadly Tuesday after a report on April retail sales beat forecasts and supported views that the Federal Reserve will probably stop cutting interest rates next month.

JPMorgan Chase Chairman and Chief Executive Jamie Dimon Monday told bank investors that while the current credit market crunch may soon be over, the U.S. economy could still face a deep and extended recession

Chicago Federal Reserve Bank President Charles Evans said that U.S. interest rates are "accommodative" and at the right level given a weak growth outlook, but then indicated that the Fed could still be open to cutting rates further.

It's a busy week on the economic calendar, with the consumer price index, data on housing starts and the Philly Fed index all expected.

The dollar rose versus the Japanese yen and Swiss franc Monday as investors snapped up riskier assets such as stocks, encouraged by a dip in oil prices and unexpectedly strong earnings from HSBC.

The U.S. trade deficit narrowed more than expected in March on a record plunge in the value of imports, even as average oil prices surged to a new record, a Commerce Department report on Friday showed.

The dollar fell Friday as another round of credit market losses prompted investors to reduce exposure to risky assets and heightened concern about the health of the U.S. economy.

“We're of the opinion that the market has likely seen the worst,” says Standard & Poor’s Chief Investment Strategist Sam Stovall. He's not alone.

Oil prices have soared nearly 10 percent in the past four sessions alone, and CNBC asked the experts for insights and answers.

U.S. Treasury Secretary Henry Paulson said on Thursday tax rebates now being issued to Americans will immediately help consumers and bolster the economy by summer.