Econ 101: February 24, 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.

  • The United States Postal Service has announced plans to cut 35,000 jobs and close 223 processing centers. [CNN]
  • Speaker John Boehner (R-OH) may scale back the House GOP’s transportation bill. [The Hill]
  • More workers are having to deal with long commutes due to the weak economy. [Huffington Post]
  • Bank of America announced yesterday that it has stopped selling most mortgages to Fannie Mae, the latest step in an ongoing feud between the bank and the mortgage giant. [Wall Street Journal]
  • The New York City Education Department will release the ratings of thousands of teachers today. [New York Times]
  • HUD Secretary Shaun Donovan plays defense on the $26 billion foreclosure fraud settlement. [CNN Money]
  • Initial jobless claims are holding steady at their four-year low. [Reuters]
  • House Republicans are again trying to strip the Federal Reserve of its mandate to ensure full employment. [Reuters]