By William Patalon III Executive Editor Money Morning/The Money Map Report U.S. Federal Reserve Chairman Ben S. Bernanke didn’t use the "S" word - stagflation - but he might as well have. On Friday, the U.S. central bank chief said that the financial crisis that has hammered the U.S. market is combining with rising inflation to eviscerate American economy. Together, the two forces are making it extremely difficult for the Fed to restore economic stability in the U.S. market. Bernanke apparently welcomed the recent drop-off in the prices of oil and other key commodities - and says that inflationary pressures will moderate over the next year and a half, but also cautioned that the current inflation outlook remains highly uncertain. The upshot: The Fed will monitor the economic situation closely and will "act as necessary" to make sure that inflation doesn’t get out of ...

India's export growth accelerated in April as companies shipped more gems, jewelry, oil and other manufactured products to overseas markets. Shipments were up 31.5 percent to $14.4 billion from a year earlier, faster than March's 26.6 percent gain, the government said in a statement in New Delhi today. Imports in April rose 36.6 percent to $24.3 billion, widening the trade deficit to an all-time high of $9.87 billion. Overseas sales have risen as companies boost shipments to Europe, Japan and other developing Asian nations to counter slowing demand from the U.S., India's biggest export market. Exports to the U.S. rose 9.3 percent in the nine months to Dec. 31, slower than the 10.6 percent gain in the same period a year earlier, according to the latest breakdown of overseas sales released by the central bank. India gives a more detailed analysis of exports five months ...