United States wholesale prices soared 0.9% in May pushed mainly by a 10.2% rise in fuel prices adding to concerns over continuing inflation risks and fears over further interest rate rises.
The United States government refused on Wednesday to name China as a manipulator of currency values to gain unfair trade advantages and rejected a request by Congress members to file a trade case against Beijing on the currency issue.
The United States trade deficit fell unexpectedly in April to 58.5 billion US dollars, helped by the weak dollar which makes US exports more competitive and depresses demand for imports.
The chairman of the United States Federal Reserve Ben Bernanke forecasted Tuesday the US economy will rebound in spite of the slump in housing and the somewhat elevated inflation.
The United States economy grew at the slowest pace in four years in the first three months of this year. Thursday's report from the Commerce Department says the gross domestic product, GDP, of the United States grew just 0.6%.
Former United States Federal Reserve Chairman Alan Greenspan said on Friday that U.S. interest rates are low, but that rates are low all over the world.
The United States economy added 157,000 new jobs in May, the biggest expansion in two months as companies continued to employ despite the sluggish economy.
United States President George W Bush has chosen Robert Zoellick, former deputy Secretary of State, to be president of the World Bank, US officials revealed on Tuesday.
The average price of regular gasoline has reached a new record in United States but adjusted to inflation and linked to the GDP, the bill is still lower than that of 1981, according to the US Energy Information agency, EIA.
Former U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday he feared a dramatic contraction in Chinese stocks but said the global economy may be able to shrug off a drop in asset prices. U.S. and Japanese stock markets slipped following his remarks.