U.S. central bank policymakers are meeting Tuesday to consider an interest rate cut to ease a U.S. credit crisis and stimulate the struggling economy.

The U.S. government is using all tools at its disposal to stem a deepening financial crisis and reassure markets after one of America's largest investment banks was bought out to rescue it from the brink of bankruptcy. Meanwhile, new statistics point to a further weakening of the U.S. economy.

President Bush says the U.S. economy is facing challenging times.

President Bush says Americans can feel confident about the country's economic future even though growth has clearly slowed.

President Bush has acknowledged that the United States is going through a difficult economic period, but he also has expressed optimism that the economy will rebound.

U.S. central bank chief Ben Bernanke, in a second day of testimony before a Congressional committee, says the simultaneous challenges of economic slowdown, rising inflation and a credit squeeze pose significant policy challenges for the government. VOA's Barry Wood reports.

The U.S. economy will most likely be able to avoid recession. Interest rate cuts would help the economy pick up pace later this year, Janet Yellen, the President of San Francisco’s Federal Reserve Bank said.

Investors in Asia dumped stocks Wednesday following Wall Street's steep drop overnight. The culprit: new data that point to a faltering U.S. economy. VOA's Heda Bayron reports from Hong Kong.

Hong Kong stocks skidded on heavy selling during a shortened session ahead of the Lunar New Year holidays on declines in HSBC Holdings and China Life, while Japanese stocks plunged on financials such as Mitsui Sumitomo Insurance and shipping forms such as Mitsui O.S.K. Lines.

The U.S. central bank Tuesday begins a key two-day policy meeting that many economists predict will result in another interest rate cut, to help boost the troubled economy and stop a sell-off in global stock markets.

President Bush is preparing to deliver his final State of the Union Address -- the annual speech before the U.S. Congress that outlines the president's policy agenda for the coming year.

The Bush administration says the long-term outlook for the U.S. economy is bright, and steps are being taken to address short-term weakness. VOA's Michael Bowman reports from Washington, some candidates in the presidential election campaign believe a stimulus package crafted by the White House and congressional leaders is either misguided or fails to address the country's most pressing needs.