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Economy


EU Stirs Expectations of Greek Aid Package to Ease Region's Widest Deficit The European Union dropped hints that a summit this week will offer an aid package to financially- stricken Greece as officials seek to prevent its budgetary woes from eroding confidence in the euro.

Summers Says He's Optimistic Congress Will Pass Bill to Boost Job Growth White House economic adviser Lawrence Summers said today he is “optimistic” that Congress will pass legislation this year aimed at job creation.

Wholesale Inventories in U.S. Unexpectedly Declined by 0.8% in December Sales at U.S. wholesalers climbed in December for a ninth consecutive month, leading to an unexpected drop in stockpiles that may keep spurring orders.

Stiglitz Says U.S., U.K. Default Notion Reflects `Absurdities' in Markets Nobel laureate Joseph E. Stiglitz said the prospect of a default by the U.S. or the U.K. is an “absurd” notion constructed in financial markets.

European Finance Ministers Urged to Skirt Questions About Greek Default European Union finance ministers were instructed last week to skirt questions on a possible bailout of Greece and emphasize their support for the government’s deficit- cutting measures, according to a draft document.

Germany Considers Aid to Greece to Ease Deficit, Government Lawmakers Say Germany is considering assistance for Greece after the country’s fiscal woes threatened the stability of the euro and financial markets, two lawmakers from Chancellor Angela Merkel’s governing coalition said.

O'Neill Says China's Growth `Too Strong' for Government Looking to Tighten China’s economic growth is “too strong” for government officials who are already trying to tighten credit, said Goldman Sachs Group Inc.’s Chief Global Economist Jim O’Neill.

South Korea's Central Bank May Maintain Rate at 2% Amid Political Pressure South Korea’s central bank may keep the benchmark interest rate at a record low as the government presses policy makers to stoke the economy before elections.

U.S. Small-Business Confidence Index Rises for First Time in Three Months Confidence among U.S. small businesses increased in January for the first time in three months as the outlook for sales improved, according to the National Federation of Independent Business optimism index.

EU's Barroso Says Investors Wrong to Bet Against Euro Amid Greece's Crisis European Commission President Jose Barroso said Europe’s political commitment to the euro means investors would be wrong to bet against the single currency as Greece’s budget woes threaten to spread to other countries.

U.K. Winter Freeze Hurt Retail Sales, Housing Market Enquiries in January U.K. retail sales climbed in January at the slowest annual pace in at least 15 years, and enquiries to buy homes dropped as winter weather hurt consumer spending, surveys showed.


Fed Watch


Fed's Yellen Says Flexible Yuan May Ease China's Concerns About Inflation Federal Reserve Bank of San Francisco President Janet Yellen said a more flexible exchange rate policy in China may help mitigate growing concerns about inflation there and ease “global imbalances.”

End of TALF Means Bond Sales With Spreads Five Times Wider: Credit Markets The end of a Federal Reserve program that helped unlock credit markets is spurring sales of asset- backed bonds with relative yields five times wider than on debt secured by car loans.

Hoenig Says He Dissented on FOMC's `Extended Period' Language on Rates Kansas City Federal Reserve Bank President Thomas Hoenig said he dissented from the Fed’s last policy decision because promising to keep rates low for an “extended period” isn’t appropriate as the crisis fades.


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