Action urged over US economy woes
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Top economists warn that a recession in the US looks more likely, and urge government action.
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Treasury Secretary Henry M. Paulson acknowledged the United States is experiencing a âsignificantâ housing market downturn but the economy should avoid recession.
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EU finance ministers have called on the United States to do more to halt the steep fall of the dollar against the euro and other currencies.
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The weak U.S. dollar and a huge trade deficit eventually may cause dire economic problems for the country, Federal Reserve Chairman Alan Greenspan warned Friday.
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The United States called for the World Trade Organisation to set up a complaints panel to investigate European Union customs rules which Washington says penalizes US exports.
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European Central Bank President Jean- Claude Trichet joined European finance ministers in appealing to the US to stem the decline of the dollar, warning that the currencyâs slide risks derailing global growth.
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The U.S. economy should contract slightly in coming months as the ongoing slump in the housing industry takes a deeper toll on the economy, a gauge of future business activity showed Thursday.
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The economy struggled under an increasing trade deficit and a slowdown in consumer spending, the Commerce Department said today.
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European finance chiefs take the US to task for allowing the dollar to slide, saying it puts Europe's economy at risk.
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Economic slowdown in the United States  will be significant and will last for some time, the head of  the International Monetary Fund said on Monday, calling for a  coordinated response to financial turmoil around the world.
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EUROPEAN Union finance ministers today pressed for action by the US to prop up the dollar as eurozone nations expressed their deep disquiet at the parlous state of America&#39;s national finances.
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US retail sales and industrial output slow as the economy is hit by the housing slump and credit squeeze.
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European Union finance ministers said yesterday that Europe and the US must both act to stem the euroâs rise against the US dollar.
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Business & money: Asian markets took a battering overnight on growing fears that the US, the world's biggest economy, may be heading for recession.
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Interest rates must be cut to avoid following the US into a slowdown, warns one MPC member
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British finance minister Gordon Brown said on Thursday he would urge the United States to tackle its current account and budget deficits, and warned that the weak dollar was hurting the British and other global economies.
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BRUSSELS, Belgiumââ A top European Union official urged the United States on Monday to curb its deficits to help bolster the sagging dollar amid fears a strengthening euro would stifle EuropeÂ´s fledgling economic recovery.