Economy
Consumer Spending, Home Sales Probably Rose as U.S. Recovery Takes Root Consumer spending probably rebounded
in October, showing that mounting unemployment is restraining,
not derailing, the biggest part of the U.S. economy, analysts
said before reports this week.
Obama Says Exports Are Key to U.S. Job Creation, Were Focus of Asian Trip President Barack Obama said he
focused much of his recent week-long trip to Asia on exploring
ways to increase U.S. exports and thereby create jobs.
Bank of Japan, Government Clash Over Deflation Threat to Economy's Rebound Japan’s government and central bank
clashed over the threat of deflation, indicating Prime Minister
Yukio Hatoyama may want stronger monetary stimulus to buttress
the economy’s recovery.
Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Federal Reserve officials are
stepping up scrutiny of the biggest U.S. banks to ensure the
lenders can withstand a reversal of soaring global-asset prices,
according to people with knowledge of the matter.
ECB Tightens Collateral Rules in Step Toward Unwinding Emergency Measures The European Central Bank tightened
the rules for the collateral it accepts against loans as it
tries to restore the “proper functioning” of markets and
prepares the ground to unwind emergency liquidity measures.
China Rebuffs Yuan Criticism as Zhou Says Government Is Passive on Dollar China is “passive” on the value of
the U.S. dollar, central bank Governor Zhou Xiaochuan said,
signaling that policy makers aren’t yet prepared to loosen
controls on the yuan.
China Will Have Own Bubble to Face as Consumer Demand Falters, Gross Says Bill Gross, who runs the world’s
biggest bond fund at Pacific Investment Management Co., said
Chinese growth is likely to be hurt by an absence of consumer
demand from trading partners such as the U.S.
Geithner Rejects Call for His Resignation, Citing Bush `Legacy of Crises' Treasury Secretary Timothy Geithner
defended the Obama administration’s economic record and
dismissed a call for his resignation from the senior House
Republican on the Joint Economic Committee.
U.K. Economy May Have Turned Corner, Pound to Spur Recovery, Gieve Says Former Bank of England Deputy
Governor John Gieve said the U.K. economy may have passed a
“turning point” as the pound’s slide helps it recover from the
longest recession on record.
Malaysia Economic Contraction Narrows on Stimulus, Boosting Asian Recovery Malaysia’s economy shrank the least
in three quarters as government stimulus boosted consumption and
the global recession eased, strengthening an Asian recovery.
Fed's Shield Against Interest-Rate Audits Takes Blow as Paul Bill Advances The Federal Reserve’s shield from
congressional audits of interest-rate decisions took a blow from
lawmakers who want to open the central bank’s books to greater
congressional scrutiny.
Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Federal Reserve officials are
stepping up scrutiny of the biggest U.S. banks to ensure the
lenders can withstand a reversal of soaring global-asset prices,
according to people with knowledge of the matter.
Fed's Shield Against Interest-Rate Audits Takes Blow as Paul Bill Advances The Federal Reserve’s shield from
congressional audits of interest-rate decisions took a blow from
lawmakers who want to open the central bank’s books to greater
congressional scrutiny.
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