Econ 101: February 16, 2012

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.

  • China’s renminbi has appreciated 12 percent since June 2010 and 40 percent since 2005 against the dollar, helping increase American exports to China. [New York Times]
  • The Obama administration plans to unveil a corporate tax reform plan “within days.” [Reuters]
  • Citigroup will pay $158 million to settle claims that it defrauded the government into insuring risky home loans. [Reuters]
  • Secretary of State Hillary Clinton and former National Economic Council Director Larry Summers are two leading candidates to succeed outgoing World Bank President Robert Zoellick. [Bloomberg]
  • Congressional negotiators have reportedly finalized a plan to extend both the expiring payroll tax cut and unemployment benefits, with votes coming as soon as Friday. [Washington Post]
  • The Federal Reserve is, for now, ruling out using another round of asset purchases to boost the economy. [Financial Times]
  • Sen. Barbara Boxer (D-CA), who sponsored the Senate’s latest transportation bill, sees no path forward for the legislation. [The Hill]
  • General Motors is freezing pensions for its white collar work force and also forcing its workers to forego raises this year. [Associated Press]