United States
United StatesUS on the path of Japan’s stagflation of 18 years ago, says Nobel Prize
Economics 2008 Nobel Prize Paul Krugman said the United States is heading along a path of stagnation and deflation similar to that of Japan 18 years ago given the critical economic situation and the uncertain political scenario following the recent mid term elections that brought to Congress diehard Republicans.
The Fed cuts US economy growth estimate for 2011 and ups unemployment
The Federal Reserve has cut its 2011 growth forecast for the US economy, newly released minutes of its last policy committee meeting reveal. The Fed expects growth of 3-3.6% next year, down from its previous 3.5-4.2% estimate. It also forecasts higher unemployment and lower inflation than before.
US economy grows faster than estimated in the third quarter: 2.5%
US economy grew faster than previously estimated in the third quarter, government data showed, but still not enough to address stubbornly high unemployment. GDP growth was revised up to an annualized rate of 2.5% from 2% as exports together with consumer and government spending were stronger than initially thought.
Bolivia rejects US warning and will have dealings with whomever it wishes
Bolivian President Evo Morales delivered a blunt reply on Monday to visiting US Secretary of Defence Robert Gates's warning about dealings with Iran, saying Bolivia will ally with whomever it wants.
EU and the US pledge to reach a deal on the Doha trade negotiations next year
European Union leaders and President Barack Obama over the weekend made a point of stressing EU/US close ties after a low-key summit in Lisbon ended with a pledge to push for a deal in the Doha trade negotiation next year.
International visitors sustainedly flocking to the US: 40.2 million in eight months
The United States Department of Commerce says the number of international visitors to the country is rising fast.
Bernanke warns about two-speed recovery which could end in slow growth for all
The United States central bank chairman Ben Bernanke has criticised countries like China that run large trade surpluses. He said that by buying dollars, these countries were hurting the US recovery and the global economy with it.
US October inflation year-on-year stands at 1.2%; fears of deflation
Inflation in the US slowed further in October, with “core” inflation - which excludes volatile food and fuel prices - up only 0.6% on a year ago. It is the lowest year-on-year increase on record, with core prices remaining unchanged for three months running.
Republicans promise head on battle with ‘dangerous’ Latam ‘autocrats’
The “dangerous behaviour” of the presidents of Venezuela, Nicaragua, Bolivia and Ecuador shows “an undeniable link between the decline of democratic freedoms and human rights and the increase of tangible risks to the security of our region,” said US Congresswoman Ileana Ros-Lehtinen (R-Fl), a Cuban-American lawmaker.
US cancel exchange of sensitive information with Argentina because of “leaks”
The Argentine government admitted that a confidential communication channel with the US on financial operations was interrupted mid 2009 following Washington’s suspicions that data sent to Buenos Aires was used for political purposes.
