Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.
- Treasury Secretary Tim Geithner told ABC this morning that “he doesn’t know if the bruising debt-limit battle will harm America’s Triple-A credit rating, but says he fears ‘world confidence was damaged by this spectacle.’” [Associated Press]
- The Senate is scheduled to vote on the debt ceiling deal today at noon, after the House approved it last night. [Washington Post]
- Democrats plan to push for the special committee created by the debt deal to “raise taxes for private equity managers, oil companies and high-income earners” but “will face continued opposition from Republicans who will have the procedural power to stop them.” [Bloomberg]
- The Federal Reserve “may start weighing additional steps to prop up the recovery after growth fell below 1 percent in the first half of this year and economists began cutting second-half growth forecasts.” [Bloomberg]
- According to the latest data, “the manufacturing sector nearly stood still in July,” registering its lowest growth since July 2009. [CNN Money]
- According to a report from Moody’s Investor Services, “delinquency rates on student loans have not improved as the economy has stabilized in recent years, as have the rates for other kinds of consumer loans, raising the prospect that significant numbers of student loan borrowers will be unable to repay their loans in the coming years.” [Inside Higher Ed]
- “The financial industry has spent more than $100 million so far this year to court regulators and lawmakers, who are finalizing new regulations” that are part of the Dodd-Frank financial reform law. [New York Times]
- Commerce Secretary Locke formally resigned yesterday to take up his new post as Ambassador to China. [The Hill]
- With HSBC and Merck both announcing heavy job cuts, “a new wave of corporate layoffs could pick up momentum if the economy does not kick into a higher gear soon.” [CNBC]
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