BEIJING (MNI) - The Chinese economy is headed in the expected direction and so the government will stick to its current policy stance, Premier Wen Jiabao said in comments published Wednesday.

The government release of the conclusions of a recent meeting held between the State Council and economists and business executives indicated that Wen highlighted the need for a balance between the maintainance of stable but fast economic growth and the management of inflation expectations.

By John Shaw

WASHINGTON (MNI) - The House-Senate conference committee on regulatory reform Tuesday evening passed the same bill that it approved Friday morning, except that it includes a different package of offsets to pay for the bill.

After a two-hour debate, the revised bill was approved Tuesday on a party line, 27 to 16 vote.

By John Shaw

WASHINGTON (MNI) - The House-Senate conference committee on regulatory reform legislation will reconvene at 5 p.m. Tuesday and the panel is expected to assemble a different funding package in an attempt to secure the votes needed to pass the legislation.

By Yali N'Diaye

WASHINGTON (MNI) - Despite downside risks, the global recovery will continue without a double dip, the International Monetary Fund's Managing Director Dominique Strauss-Kahn said Tuesday.

Speaking during a lunch-time event at the Peterson Institute, he also announced the institution is working on developing a "precautionary" credit line at the regional level for those countries who do not qualify for the flexible credit line.

By John Shaw

WASHINGTON (MNI) - Senate Agriculture Committee Blanche Lincoln, a key player on financial regulatory reform, said Tuesday it's a "possibility" that the compromise reform package will have to be refined in order to win passage in Congress.

By John Shaw

WASHINGTON (MNI) - In a clear indication that Democratic leaders are scrambling to line up the votes to pass the regulatory reform conference report, House Majority Leader Steny Hoyer said Tuesday that he expects the House to take up the sweeping package "relatively soon."

By Brai Odion-Esene

WASHINGTON (MNI) - The U.S. Treasury's chief economist said Tuesday that while the recovery in the United States will move in "fits and spurts," and remain fragile, economic growth will continue in the region of 3% percent in 2010 before growing stronger next year.

"We are seeing signs of a normal recovery," Assistant Secretary for Economic Policy Alan Krueger said in a speech prepared for delivery to the Charlotte Chamber of Commerce's small businesses and entrepreneurs summit.

FRANKFURT (MNI) - Current low inflationary pressures give monetary policy room to maneuver to stabilize financial markets, lending and the real economy, European Central Bank Governing Council member Ewald Nowotny said Tuesday.

The ECB's purchase of Greek government bonds does not have an effect on the money supply, the head of Austria's National Bank assured, according to a summary of his remarks, which had no direct quotes, to the Finance Committee of Austria's parliament.