United States home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis' mounting damage to homeowners and the US economy.
The United States unemployment rate rose at its fastest pace in more than two decades in May, stoking fears of recession in the world's biggest economy. The surprise jump in May's jobless rate to 5.5% from 5% is the most recent signal yet that US growth is stalling.
Federal Reserve Chairman Ben Bernanke said Wednesday that long term inflationary expectations are concerning but he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.
United States former Federal Reserve Chairman Alan Greenspan said on Friday in Canada that he does not expect another bubble in world markets for a long time but warned about the threat of inflation.
The United States economy performed better than expected in the first quarter of 2008 having expanded 0.9% according to the latest data from the Commerce Department.
Federal Reserve Governor Frederic Mishkin will leave at the end of August and return to teaching at Columbia University, the United States central bank announced Wednesday.
With oil prices hitting new records almost daily, the nation's largest air carrier, American Airlines, announced drastic steps Wednesday to remain viable, including charging new fees for all checked baggage, slashing domestic flights and laying off thousands of workers.
The US Federal Reserve injected 75 billion US dollars liquidity into the banking system on Tuesday but a monetary pause in the near future is possible as the central bank's interest-rate reductions take effect.
United States Producer's Price Index increased 0.2% in April following the big 1.1% jump in March but the improvement is likely to be temporary since during April food prices remained unchanged and energy actually dropped, reported the US Labor Department on Tuesday.
Hopes for something more than a temporary rebound in the US economy anytime soon could be frustrated, but the manufacturing outlook in particular might be somewhat brighter due to continuing strength in exports, according to a new report.