Econ 101: August 4, 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.

  • According to some of its former members, the Federal Reserve “should consider a new round of securities purchases to spur the economy if growth and employment keep languishing and inflation recedes.” [Wall Street Journal]
  • Treasury Secretary Tim Geithner “is expected to stay through the president’s term after intense White House pressure,” though he hasn’t made a final decision. [New York Times]
  • Investors yesterday “drove borrowing costs for Italy and Spain to 14-year highs, fueling sharp stock market drops in London, Frankfurt, Paris, Milan and Madrid.” [Washington Post]
  • Congressional leadership has two weeks to name members of the 12 person super committee formed by the debt ceiling deal, “and some lawmakers have been quietly promoting themselves or their friends for spots on the 12-member panel.” [New York Times]
  • Congressional leaders yesterday reportedly “ended an impasse” over three pending free trade agreements, agreeing that after the August recess, Congress will first vote on renewing the Trade Adjustment Assistance program and then move to the trade deals themselves. [Bloomberg]
  • House Minority Leader Nancy Pelosi (D-CA) yesterday pushed back against movement towards approving new free trade agreements; when MSNBC’s Andrea Mitchell suggested that the deals “could have produced more jobs,” Pelosi responded, “Well, that’s debatable.” [The Hill]
  • The U.S. Chamber of Commerce says that is “is likely to sue the National Labor Relations Board (NLRB) if it finalizes a set of proposed rule changes that would hasten union elections.” [The Hill]
  • The Dow rose 30 points yesterday, breaking an eight day streak of losses. Nine days would have been the longest string of losses since February 1978. [Associated Press]
  • A new study finds that “among minority households, even those with relatively high incomes tend to be clustered in neighborhoods where most of their neighbors are the same race and many are poor.” [Huffington Post]
  • The debt ceiling deal signed into law this week “could cut the flow of some federal money to states…and that slowdown could hinder states that are pushing for ambitious — and sometimes expensive — changes in teacher evaluation, assessment, academic standards, and other areas.” [Education Week]