
Ben Bernanke has defended the continuing low-interest-rate policies of the US Federal Reserve and central banks in Europe, saying they are helping to boost the global economy. The Fed governor's comments come after some analysts have voiced concern that such low rates are cutting the value of currencies of advanced nations.

Federal Reserve Chairman Ben Bernanke admitted speaking to President Barack Obama about his future and that he feels no personal responsibility to stay at the helm until the Fed winds down its unprecedented policies to stimulate the US economy.

Congress has comfortably passed a large spending bill to keep the US government running until the end of September and avert a temporary shutdown. President Barack Obama must now sign the bill, which was passed by a bipartisan vote of 318-109.

Chinese President Xi Jinping told US Treasury Secretary Jacob Lew in Beijing on Tuesday that he wants to build a new type of relationship with Washington centred on core interests.

The US State Department spokesperson said on Tuesday that Washington’s formal position regarding the Falklands/Malvinas despite the democratic referendum results, “has not changed: we recognize de facto UK administration of the Islands, but we take no position on sovereignty claims”.

The European Commission agreed Tuesday negotiating guidelines for talks with the United States on the world's biggest Free Trade Agreement, stressing a pragmatic approach to even sensitive subjects.

Hiring in the US has gathered momentum after government figures showed that the economy created 236.000 jobs in February. The figure was much higher than analysts had expected, and more than the 157,000 jobs created in January.

President Barack Obama said within hours of the death of President Hugo Chavez Tuesday that the United States was interested in a constructive future relationship with Venezuela.

Gross domestic product (GDP) in the US in the last three months of 2012 has been revised from showing contraction to growth. The Commerce Department's second estimate was that the economy had grown at an annualised 0.1%. The first estimate was a 0.1% contraction.

US President Barack Obama has signed into effect a wave of steep spending cuts which he has warned could damage the US economy. The cuts - known as the sequester and drawn up two years ago will take 85bn dollars from the US federal budget this year.