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Economic Measures Inflation

  • Stocks finished higher Wednesday, despite profit-taking in the last half-hour of trading, as Wall Street cheered what appeared to be a tame inflation reading.

  • Stocks opened higher Wednesday after a better-than-expected reading on inflation.

  • New York Gas Prices at $4 per gallon

    In the real world, gasoline prices surged 5.6% in April, but the government smooths out seasonal oddities so prices appeared lower in Wednesday's inflation report.

  • Inflation fears are beginning to trump recession worries. That was the finding of Merrill Lynch's latest monthly global fund manager survey, which shows the number of managers expecting recession this year actually declined.

  • Bond fund leader Pimco's Mohamed El-Erian on Wednesday said the Federal Reserve does not have the tools to deal with the U.S. housing crisis and rapidly rising consumer prices, leaving it to lawmakers to avert a severe recession.

  • Stocks opened higher Wednesday after a better-than-expected reading on inflation.

  • Former U.S. Federal Reserve Chairman Paul Volcker

    Former Federal Reserve Chairman Paul Volcker Wednesday said the central bank's role in overseeing financial markets needs to be more clearly defined and the that of rating agencies, sovereign wealth funds and hedge funds in the financial crisis should be weighed.

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    The dollar rebounded against the euro Wednesday as U.S. stocks extended gains and shrugged off a report showing tame reading on U.S. consumer prices in April.

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    Consumer prices rose a smaller-than-expected 0.2 percent in April as energy prices held steady, a Labor Department report on Wednesday showed.

  • Worker in an Alcoa plant.

    Rising raw material prices are likely to be passed on and will take another chunk out of consumers’ wallets, further heaping inflationary pressures on to the global economy, ArcelorMittal CFO Aditya Mittal told CNBC Wednesday.

  • The Federal Reserve may start using regulation or even interest rates to fight asset-price bubbles, instead of trying to limit the damage once they burst, as it has done until now, the Financial Times reported on its Web site.

  • Rescuers search for victims in the debris of a hospital after the earthquake in Dujiangyan, China (AP).

    Thousands of Chinese troops are set to join a frantic search for earthquake survivors on Wednesday, with prospects looking increasingly grim for thousands of people buried under rubble and mud.

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    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.

  • Ben Bernanke

    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.

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    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.

  • Rescuers search for victims in the debris of a hospital after the earthquake in Dujiangyan, China (AP).

    China's most devastating earthquake in three decades killed more than 12,000 people with the toll likely to soar after state media said on Tuesday nearly 19,000 were buried under rubble in one city alone.

  • 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.

  • ECB policymaker Christian Noyer said on Tuesday that an explosive mix of soaring commodity prices and "permissive" monetary policy in some countries with dollar pegs could trigger an inflationary spiral which would hurt poor nations most.

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    Retail sales weakened modestly in April, but outside the hard-pressed auto sector they showed more resiliency than anticipated.

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    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.