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.
- “A worker’s level of education has a greater effect on his or her earnings over the course of a 40-year career than any other demographic factor, including gender or race,” according to new data released by the U.S. Census Bureau. [Education Week]
- U.S. banking regulators “are likely to miss an October deadline for the Volcker rule, a hotly contested part of last year’s financial-overhaul law that limits financial firms from trading with their own money.” [Wall Street Journal]
- “President Obama plans to send the American Jobs Act, his $447 billion plan to jump-start the economy, to Congress on Monday evening,” according to a White House official. [Washington Post]
- President Obama’s jpbs plan “all but ignores what many economists see as the single biggest problem in the stalling economy: the continuing depression in the housing market.” “That’s probably the biggest missing ingredient here,” said economist Mark Zandi. [Los Angeles Times]
- JP Morga Chase CEO Jamie Dimon described new international bank capital rules as “anti-American” in an interview, saying that he is “supportive of forcing banks to have more capital but argued that moves to impose an additional charge on the largest global banks went too far.” [Reuters]
- Government-backed mortgage giants Fannie Mae and Freddie Mac “are exploring ways to help homeowners refinance into cheaper mortgages”, according to the companies’ regulator, “who stopped short of a promise to deliver on a proposal” President Obama made in his jobs speech last week. [Bloomberg]
- The Treasury Department is reportedly “weighing a proposal to eliminate some, but not all, of the taxes on overseas profits of U.S.-based companies.” [Reuters]
- “U.S. authorities now have statistical data from the ten Swiss banks being investigated by the United States for helping U.S. clients to dodge taxes,” but the banks are still refusing to reveal “any bank client data.” [Reuters]
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