European Central Bank head Jean-Claude Trichet said on Monday that financial markets were experiencing an "ongoing correction" and repeated that the G7 was concerned about excessive dollar volatility.
China's consumer inflation is expected to reach 7% in 2008, up from 4.8% last year, a government economist said in comments published on Monday
The dollar held its ground on Monday, taking advantage of the ultra-thin volumes owing to U.S. and UK market holidays to arrest its decline of the last three weeks and eke out slender gains against a basket of major currencies.
Blame for the sub-prime crisis lies at the feet of banks who took too many risks in mortgage lending, Warren Buffett told a Madrid newspaper. Earlier, the billionaire investor said he expected a "long, deep" recession.
The dollar fell on Friday and was set for its steepest weekly slide against a basket of major currencies in two months, as record high oil prices left the U.S. economy vulnerable to slower growth and rising inflation.
Kimberly-Clark, marker of Kleenex tissues, Huggies diapers and a host of other consumer products, said Friday it would raise prices by 6 percent to 8 percent in the third quarter to offset higher raw material and energy costs.
Traders are hoping for a quiet end to the week, ahead of Monday's Memorial Day holiday. They say, though, a lot will depend on what happens with April's existing home sales data, released at 10 a.m., and the price of oil.
U.S. Treasury Secretary Henry Paulson told CNBC Thursday that rising oil prices are not driven by market speculation but instead reflect tight supplies and growing global demand.
Wall Street appears resigned to the idea that the Federal Reserve is done cutting interest rates, but a patchy economy could force policy-makers to keep their scissors handy.
The dollar rose Thursday, boosted by better-then-expected jobless claims data, but support remained fragile as record high oil prices stoked worries about the health of the U.S. economy.
High food prices will continue for at least a decade even if they drop from the levels that sparked street protests or riots in Africa, Asia and the Caribbean in recent months, government-backed international agencies say.
Americans are fooling themselves if they think U.S. inflation is under control, the manager of the world's largest bond fund said
The US mortgage market will recover slowly from a wave of bad loans that threw financial markets into crisis and the lending system will need repairs, Federal Reserve Governor Randall Kroszner said Thursday.
The number of U.S. workers filing initial claims for jobless benefits unexpectedly fell by 9,000 last week to its lowest level in a month, the government said Thursday, but remained at elevated levels to underscore a sluggish jobs market.
Stocks may try to shake off losses Thursday, but spiking oil prices and a weak dollar could hold back efforts to rally.
Goldman Sachs Senior Investment Strategist Abby Joseph Cohen told CNBC Wednesday that she sees U.S. interest rates climbing, though not necessarily in the short term.
The dollar fell to a one-month low against the euro Wednesday and touched a one-week trough versus the yen after the Federal Reserve lowered its growth estimates for 2008.
The following is the text of the minutes from the Federal Open Market Committee's meeting of April 29 to 30, issued on Wednesday.
The Fed cut its economic growth forecast and warned of higher inflation and unemployment but signaled more rate cuts are unlikely. "If you had any doubt that the Fed is signaling a pause, that doubt is gone," said one economist.
More selling could be in store Wednesday as oil's wild ride higher threatens to again derail stock prices.