"Econ 101: September 29, 2011"
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 federal program “that gives bridge loans to homeowners struggling to make mortgage payments will likely pay out less than half the $1 billion that Congress allotted for the program.” [Wall Street Journal]
- The House today is planning “to pass a one-week spending bill that will keep the government running through Oct. 4. The measure is expected to be approved by unanimous consent.” [The Hill]
- The German Parliament has “approved an expansion of the euro-area rescue fund’s firepower, freeing the way for European officials to focus on what next steps may be needed to stem the debt crisis.” [Bloomberg]
- Analysts at Goldman Sachs see a 40 percent chance of a “Great Stagnation” taking over the world’s developed economies. [CNBC]
- Federal Reserve Chairman Ben Bernanke said yesterday that “the central bank might need to ease monetary policy further if inflation or inflation expectations fall significantly.” [Reuters]
- According to a new study, “Hispanics now make up the largest group of children living in poverty, the first time in U.S. history that poor white kids have been outnumbered by poor children of another race or ethnicity.” [Washington Post]
- What little is left of the failed investment bank Lehman Brothers reached a deal “with Bank of America Corp and Merrill Lynch that will reduce the banks’ claims against Lehman by a combined $7.5 billion.” [Reuters]
- The White House said yesterday that it is “‘reviewing’ a Senate bill to crack down on China’s currency practices.” [Reuters]