Money Daily Brief: Japanese exports slump
Japan's exports fell 36 percent from a year ago.
The volume of containers, like these at a wharf in Yokohama, are dwindling at Japanese ports as exports and imports tumble.
Koji Sasahara/AP/File
鈥�Japan's slump: Imports fell 43 percent in August from a year ago, exports dropped by 36 percent, and , in a sign of continuing trouble for the world's No. 2 economy. Also, Japan Airlines is asking for its as international travel falls. On a lighter note, Honda unveiled a new unicycle-inspired
鈥�Markets swoon: Several world stock indexes fell following the Federal Reserve's announcement that it would hold interest rates near zero and . Traders worried stimulus funds might be withdrawn too soon. According to one report, the US central bank had discussed with market participants how to set up a system where it could take out from well-positioned money market funds to stave off a rash of post-crisis inflation and to give the Fed the flexibility to ramp up interest rates in coming years.
鈥�Steel City limelight: World leaders for a G20 summit that promises a heady review of the financial meltdown, disputes over the role of the International Monetary Fund, and a US push for more domestic consumption in export powers like China and Germany. Expectations are mixed about how much the leaders will agree to do.
鈥�German swagger: An economic research group said reached a 12-month high -- news that has and may do the same for Chancellor Angela Merkel's Sunday.
鈥�What ails Kenya? Widespread drought has sapped hopes that it would achieve its projected . But when President Obama sat down with African leaders at the United Nations Tuesday, he blamed it on corruption, which explains why to the luncheon. Kenya sent home 50 of its officials after an audit found that they were .
鈥� Drew Hinshaw is a Monitor contributor in Accra, Ghana. For a closer look at the Federal Reserve's interest-rate stance, see Fed statement: interest rates won't go up anytime soon.