Reuters UK – The government has created a fund to invest in technology-based firms with high growth potential, which it hopes will raise up to 1 billion pounds over the next decade.

The UK Innovation Investment Fund will focus on investing in small businesses and start-ups in digital and life sciences, clean technology and advanced manufacturing, the Department for Business, Innovation and Skills (BIS) said on Monday.

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TMCnet – Several months ago, economist David Hale had a private meeting with Federal Reserve Chairman Ben Bernanke, who was trying to ward off a recession by lowering interest rates and increasing the money supply in the economy.

The problem with that approach is that the value of the dollar plunged against foreign currencies, causing crude oil prices to skyrocket because oil is pegged to the dollar. It affected food prices, gasoline and family budgets.

"Ben, you are playing a very unique role in world economic history," Hale recalled telling Bernanke, an expert in the Great Depression. "You are the first central bank governor of the United States to preside over a recession with no decline in commodity prices."

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