Economy
Household Wealth in U.S. Increases at a Slower Pace as Home Values Decline Household wealth in the U.S. grew
in the fourth quarter at a slower pace, limited by a drop in
home values that indicates the recovery in consumer spending
will take time to gain speed.
Trade Deficit in U.S. Unexpectedly Shrinks as Oil, Automobile Imports Drop The trade deficit in the U.S.
unexpectedly narrowed in January as imports fell for the first
time in five months, indicating demand is cooling following the
fastest pace of growth in six years.
China Will Seek to Limit Inflation Rate to 5%, Morgan Stanley's Roach Says China won’t allow its inflation
rate to exceed 5 percent, said Stephen Roach, chairman of Morgan
Stanley Asia Ltd., after a report today showed the country’s
consumer prices rose at the fastest pace in 16 months.
Greece `Substantially' Underestimating GDP Contraction, Deutsche Bank Says Greece’s economy will contract
“substantially” more this year than the government forecast in
the deficit-cutting plan it gave to the European Commission,
said Deutsche Bank AG economists led by Thomas Mayer.
Hildebrand Says Swiss Central Bank Will Tighten Policy Stance Eventually Swiss central bank head Philipp
Hildebrand said officials won’t keep interest rates close to
zero indefinitely as the economy shows signs of recovery.
Economy in U.S. to Cool as Stockpiles Give Way to Exports as Growth Driver Efforts to stabilize inventories
will contribute less to the U.S. economy in coming months,
leaving business investment and exports to propel growth,
according to economists surveyed by Bloomberg News.
Japan May Cushion BOJ Balance-Sheet Contraction, `Preserve' Easing Options Japan’s central bank may seek next
week to counter a contraction of its balance sheet caused by the
month-end expiration of an emergency-credit program as deflation
persists in the world’s second-largest economy.
ECB's Mersch Says European Monetary Fund Discussion Is Driven by `Fantasy' European Central Bank council
member Yves Mersch said the discussion about a European Monetary
Fund is being driven by “fantasy.”
New Zealand May Trail Asia-Pacific Region in Raising Rates on Weak Rebound New Zealand’s central bank may be
one of the last in the Asia-Pacific region to raise interest
rates this year due to a “sluggish” economic recovery.
Philippines Pares Bank Lending Program, Keeps Interest Rate at Record Low The Philippine central bank pared
back a lending program for banks and said it will consider doing
more to reduce cash in the economy, even as it kept interest
rates at a record low.
Brazil Prosecutors Seek Tax Probe Against Central Bank President Meirelles Brazil’s Prosecutor General asked
the Supreme Court to pursue an investigation into alleged tax
crimes by central bank President Henrique Meirelles, which
analysts say may pose an obstacle to a possible run for elected
office this year.
Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal
Reserve Bank’s markets chief, said shrinking the central bank’s
$2.3 trillion balance sheet quickly through sales of assets
risks a sudden rise in long-term interest rates.
New Normal Becomes Old Normal With Exports Spurring Growth in New U.S. Mix The “new mix” is out to topple the
“new normal” as the paradigm for America’s economic future.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
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