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Economy


Retail Sales in U.S. Unexpectedly Rose in February as Shoppers Braved Snow Americans braved blizzards and overcame job concerns to propel retail sales in February, pointing to a broadening in growth that will help sustain the expansion.

Trichet Says Rating Companies to Respect `Courageous' Greece Deficit Plan European Central Bank President Jean-Claude Trichet said Greece’s plan to cut the euro-area’s largest budget deficit will win the backing of investors and credit-rating companies.

U.S. Consumer Sentiment Slips in This Month's Gauge Rather Than Increasing Confidence among U.S. consumers unexpectedly declined for a second month in March, a sign Americans are discouraged about the labor market.

Krugman Says China's Restraint of Yuan Depressing Global Economic Growth Nobel Prize-winning economist Paul Krugman said global economic growth would be about 1.5 percentage points higher if China stopped restraining the value of its currency and running trade surpluses.

Geithner Says U.S. to Recover Faster, Stronger Than Other Major Economies Treasury Secretary Timothy F. Geithner, offering his most optimistic outlook on the economic recovery to date, predicted the U.S. will rebound from the recession faster and more vigorously than other advanced economies.

Europe Industrial Output Jumps Most in 20 Years on Reviving Global Growth European industrial output rose the most in two decades in January as the reviving global economy prompted companies to boost production of goods including steel and machinery parts.

IEA Raises 2010 Crude Oil Demand Estimate on Developing Economies, China The International Energy Agency raised its forecast for global oil demand this year for a second month as fuel consumption in Asia rises more than expected.

Japan May Cushion BOJ Balance-Sheet Contraction, `Preserve' Easing Options Japan’s central bank may seek next week to counter a contraction of its balance sheet caused by the month-end expiration of an emergency-credit program as deflation persists in the world’s second-largest economy.

`Black Swan' Author Taleb Concerned About Hyperinflation Amid High Debt Nassim Nicholas Taleb, author of “The Black Swan” about how unforeseen events can roil markets, said he is concerned about hyperinflation as governments around the world take on more debt and print money.

Greek Budget Deficit Narrows, Before EU Deadline on Fiscal Plan Next Week Greece’s budget deficit narrowed in the first two months of the year, the government said today before a European Commission deadline next week to show public finances are improving.

China May Face `Massive' Bank Bailouts From Financing of Stimulus Projects China may be forced to bail out banks that made loans for local-government projects under the unprecedented stimulus program unleashed in 2008, according to Citigroup Inc. and Northwestern University’s Victor Shih.


Fed Watch


Yellen Said to Be Obama Pick for Fed Vice Chairman to Replace Donald Kohn Federal Reserve Bank of San Francisco President Janet Yellen is President Barack Obama’s pick for vice chairman of the central bank in Washington, three people with knowledge of the selection process said.

Fed's Dudley Says U.S. Should Reduce Budget Deficit Amid Fragile Recovery Federal Reserve of New York President William Dudley said the U.S. should reduce projected government budget deficits even though the economy is weak and may relapse into recession.

Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal Reserve Bank’s markets chief, said shrinking the central bank’s $2.3 trillion balance sheet quickly through sales of assets risks a sudden rise in long-term interest rates.


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