Econ 101: August 26, 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.

  • All eyes are on Federal Reserve Chairman Ben Bernanke’s speech in Jackson Hole, WY, today, and though he is unlikely to announce another round of quantitative easing, he may be willing to take “other, relatively modest, steps to shore up” the economic recovery. [Reuters]
  • Warren Buffett’s Berkshire Hathaway is investing $5 billion in Bank of America, “a bold show of faith in the country’s biggest, and most beleaguered, financial institution.” [New York Times]
  • Sen. Tom Harkin (D-IA) said President Obama should push for investments in infrastructure to create jobs, adding that putting Americans back to work should “take precedent over deficit reduction.” [Des Moines Register]
  • Republican presidential candidates are spending more time during their campaigns with business owners than they are with Americans directly affected by economic hardship. [Washington Post]
  • Standard & Poor’s is pushing back against critics of its U.S. downgrade, saying it is “an oversimplication” to blame the market’s recent slowdown on S&P;’s decision. [Bloomberg]
  • Americans are increasingly pessimistic about the economy, but 51 percent still blame George W. Bush for the problems. [Politico]
  • The National Labor Relations Board introduced new rules Thursday that will require businesses to post information about employees’ rights, including the rights to unionize, collectively bargain, and circulate union literature without retaliation. [New York Times]
  • East Coast oil refineries will likely shut down in preparation for Hurricane Irene, leading to a temporary spike in gas prices. [Wall Street Journal]