AFP - The Federal Reserve cautiously lifted its outlook for the US economy in 2008 but sees numerous risks including a potentially troublesome rise in inflation and stressed financial markets, chairman Ben Bernanke said Tuesday.

AFP - US retail sales slowed more than expected in June as American consumers cut back spending in the face of economic concerns and worries about the health of major banks, a government survey showed Tuesday.

Reuters - Weak retail sales and a rise in producer prices at their highest annual rate in 27 years provided further evidence of "stagflation" in the U.S. economy on Tuesday.

AP - Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing "numerous difficulties" despite the Fed's aggressive interest rate reductions and other fortifying steps.

Reuters - Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday.

Reuters - The Federal Reserve Board on Monday approved new rules to ban misleading and deceptive practices in mortgage lending, including prepayment penalties for many subprime loans.

Reuters - U.S. retail sales excluding cars jumped in June and posted their biggest one-month rise in seven months, as consumers spent some of their government rebate checks, a private report released on Monday showed.

AP - The U.S. government is signaling it won't throw a lifeline to struggling financial companies — except for mortgage linchpins Fannie Mae and Freddie Mac — marking a shift to a new and potentially more volatile phase of the credit crisis.

Reuters - Police officer James Denman gets a cup of coffee at a local convenience store as he prepares to swap his gas-guzzling squad car for a more energy-efficient patrol vehicle -- a bicycle.

Reuters - The bears have Wall Street cornered and they just won't let go.

Reuters - U.S. Treasury Secretary Henry Paulson is insisting that if Fannie Mae and Freddie Mac need rescuing, the plan should not benefit shareholders of the giant mortgage finance firms, the Wall Street Journal said on Saturday.