Econ 101: January 4, 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 minutes from the latest Federal Reserve Board meeting show the central bank divided over how long to keep its current bond purchasing programs in place. [Wall Street Journal]
  • The Federal Trade Commission decided unanimously yesterday to close its antitrust investigation into Google. [Washington Post]
  • The U.K.’s service sector surprisingly shrunk in December, raising the specter of a triple-dip recession. [Bloomberg]
  • The oldest bank in Switzerland will shut down after admitting that it helped wealthy Americans evade taxes. [Reuters]
  • Federal lawmakers vow that they’ll work out an overhaul of the United States Postal Service in this Congress. [The Hill]
  • America’s banks may still be concealing huge amounts of risk. [The Atlantic]
  • The percentage of income that Americans are spending to service debt is at its lowest level since 1984. [Wall Street Journal]