Finance & Economics | WPN World People News

"In this context, monetary policy cannot be a panacea," Federal Reserve Chairman Ben Bernnake says.

As America’s national debt sits above $14 trillion consumers across the nation are reducing their debts with the use of America’s legal system according to statistics released by California based Morgan Drexen.

Auto sales dropped 2.9 percent, the largest decline since February 2010, the Commerce Department said.

With job growth slowing and President Obama's poll numbers dropping, the White House is trying to stage an intervention.

The United States Department of the Treasury announced the sale of six Small Business Administration (SBA) 7(a) securities executed through a Bid Wanted in Competition (BWIC) for approximately $75.3 million, which represents overall gains and income of approximately $2.9 million for those SBA 7(a) securities. The closing date for the six securities is expected to occur on or about June 20, 2011, at which time the final gains and income will be determined.

A sign shows that a new price is available on this town house for sale in Pepper Pike, Ohio, in January. Home prices are falling across most of America's largest cities, and average prices in eight major markets have hit their lowest point since the housing bust.

FEMA Director William Craig Fugate (2nd R) speaks to the media as U.S. Homeland Security Secretary Janet Napolitano (L) and American Red Cross President and CEO Gail McGovern (R) listen after a meeting with President Barack Obama at the White House earlier this month. Obama was briefed on the 2011 hurricane season.

The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today underscored the Harper government’s strong commitment to protecting and strengthening the financial security of hard-working Canadians by deepening and broadening Canada’s trading relationships.