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.
President George W. Bush said this week he wants a United States citizen to succeed Paul Wolfowitz as president of the World Bank, playing down speculation he might turn to departing British Prime Minister Tony Blair for the job.
United States Treasury Secretary Henry Paulson urged China to address persistent trade and financial imbalances as bilateral high-level discussions kicked off in Washington.
The White House and key senators agreed Thursday to reshape United States immigration laws and give millions of illegal immigrants' legal status, a compromise that carries heavy potential risks because it still must pass the test of approval.