Ben Bernanke

The US Commerce Department has said US GDP rose at an annualised rate of 1% in the second quarter, down from an earlier estimate of 1.3%.

US Federal Reserve chairman Ben Bernanke is gearing up to deliver a key speech on the ailing US economy today - with markets looking on for hints of further stimulus.

Asian markets are trading lower as investors weigh up hopes of further action by the Federal Reserve against Moody's downgrade of Japan.

The Federal Reserve chairman Ben Bernanke has ramped up pressure on Congress to agree on its debt ceiling level, in light of rating agencies S&P's and Moody's threats to cut the US' triple-A debt rating.

Gold hit a further record high yesterday afternoon as Ben Bernanke said the Federal Reserve was prepared for QE3 while increasing risk of contagion in the eurozone worried investors.

Ignis' chief economist Stuart Thomson has said it is a "virtual certainty" Greece will default despite its move to implement the latest austerity plan.

The Federal Reserve has scaled down its growth forecast for the US in the face of higher energy costs and weak manufacturing data.

The Federal Reserve last night cut its growth forecast for the US and warned inflation is higher than expected, while hinting QE2 is on track to finish in June as planned.

As investors, we all look back with 20-20 vision at the excesses of the TMT bubble, incredulous we could have allowed valuations to get so far adrift of economic reality.

The soaring oil price poses a threat to the US economic recovery if price hikes are sustained, warns Federal Reserve chief Ben Bernanke.