Geithner: Global recession losing force
Martin CrutsingerUnited States Treasury Secretary Timothy Geithner said on Monday that the global recession seemed to be losing force.
Critics upset with US stance on Chinese currency
Martin CrutsingerCritics complain the Bush administration once again dropped the ball by failing to cite China for a currency system they see as a prime culprit in the loss of millions of United States manufacturing jobs. The administration said in a report to Congress on Wednesday that China moves too slowly to reform its currency system, but isn't technically a currency manipulator.
Bush defends economic record
Martin CrutsingerThe Bush administration defended its economic record on Friday, following a report that showed the economy lost 4 000 jobs in August, the first job loss in four years. The administration said that the tax cuts enacted in Bush's first term in office were "helping keep our economy strong, flexible and dynamic".
Standard & Poor's downgrades US credit rating
Martin CrutsingerCredit rating agency Standard & Poor's on Friday downgraded the US credit rating for the first time since 1917.
G8: Middle East violence overshadows agenda
Martin CrutsingerWorld leaders were concluding an annual economic summit on Monday in hopes that their statement blaming Middle East fighting on Hamas and Hezbollah and recognising Israel's right to self defence would help break the cycle of violence.
Higher energy prices push up US consumer inflation
Martin CrutsingerSurging energy prices pushed consumer inflation in the United States up by the largest amount in nearly a year in March. Meanwhile, industrial output fell for the second time in the past three months, reflecting a big drop in production at the nation's utilities because of the warmer-than-usual weather.
US trade deficit declines slightly
Martin CrutsingerThe United States trade deficit declined slightly in July as record exports of farm goods, autos and other products offset a big jump in foreign oil prices. The deficit with China hit the second-highest level yet, reflecting strong demand for Chinese-made goods despite a string of high-profile recalls.
US Fed leaves interest rates unchanged
Martin CrutsingerThe United States Federal Reserve kept interest rates unchanged on Tuesday for the fourth straight time as worries about inflation continued to trump concerns about the slowing economy. At its final meeting of 2006, the central bank left its target for the federal funds rate at 5,25%.
US central bank may react to market plunge
Martin CrutsingerA plunging stock market may force the Federal Reserve to step in and keep America from sliding back into recession.
US Budget deficit hits record level
Martin CrutsingerA record amount of spending in February pushed the United States government's Budget deficit to the highest level to date for a single month, the Treasury Department reported on Friday. The government had a record monthly deficit of $119,2-billion in February.
