Former Federal Reserve Chairman Ben Bernanke said on Wednesday there were no signs of extreme movements in the U.S. real estate and financial markets, but criticized the U.S. Congress for failing to approve the IMF reform measures.
With inflation firming and an economy set to rebound from a weak first quarter, there is a strong case for raising interest rates in June, a top Federal Reserve official said on Tuesday.
Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece.
Policymakers must ensure that financial industry creditors do not expect government bailouts and must be willing to let firms fail in order to restore market discipline, a top Federal Reserve official said on Tuesday.
Time Warner Cable, entering into talks to be acquired by Charter Communications Inc just a month after regulators killed a proposed takeover by Comcast Corp's, was determined not to get burned a second time.
The United States is likely to press Europe at the G7 finance ministers meeting this week in Germany to reach a deal on funding-for-reforms with Greece, an official close to the discussions said on Tuesday.
The US dollar pressed to an eight-year high against the yen on Tuesday (May 26) on more signs that the US economy is emerging from its winter chill.
Wall Street stocks fell sharply on Tuesday (May 26) on a strengthening US dollar despite news of Charter Communication's $78.7 billion deal to buy Time Warner Cable.
World oil prices fell on Tuesday (May 26) as traders mostly took their cue from the rebounding US dollar and output remained strong, dealers said.
China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued", the IMF said.