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.
The commander of United States Southern Command, Admiral James Stavridis reassured Latin American military chiefs that reinstating the US IV Fleet in the region posed no threat and will respect maritime claims, including offshore oil reserves.
United States Federal Reserve chairman Ben Bernanke urged financial institutions to remain proactive in their capital-raising efforts as market and economic conditions improve but he also called for better risk management amid ongoing fragility in the markets.
United States food prices jumped at the fastest pace for 18 years in April, but consumer price inflation still eased. Consumer prices increased 0.2% in the month, down from March's figure of 0.3%, even though food costs jumped by 0.9%, according to Labor Department figures.
The president of the US Federal Reserve Bank in Cleveland Sandra Pianalto said Tuesday in Paris that inflation remains a top risk to the economic outlook, but that the Federal Reserve's rate-cutting strategy was likely not to stoke inflationary pressures.
The United States ANB Financial National Association Arkansas based banks have been closed by the Office of the Comptroller of the Currency after discovering unsafe and unsound business practices there. The Federal Deposit Insurance Corporation has named a receiver.
The United States banking giant Citigroup announced it wants to sell 400 billion US dollars of assets over the next three years as part of its bid to return to profit. It has 500 billion US dollars of legacy assets that it wants to reduce to 100 billion
A staunch supporter of US presidential hopeful Hillary Clinton, South Dakota Senator George McGovern called on the New York Senator to drop out of the race and let Senator Barack Obama secure the Democratic Party nomination.
A new opinion poll from CNN released Thursday shows that 71% of the US public disapproves of President George Bush handling of his job, making him the most unpopular in modern US history.