Econ 101: January 14, 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 Treasury Department and the Federal Reserve have ruled out using a $1 trillion platinum coin to avert a standoff over the debt ceiling. [CNN]
  • Senate Democrats say they’ll back President Obama if he invokes special powers to circumvent the debt limit. [The Hill]
  • A top Federal Reserve official expects the U.S. economy to grow by 2.5 percent this year. [Reuters]
  • Congress this week will vote on whether to approve the rest of the aid requested by states hit by Hurricane Sandy. [The Hill]
  • The Eurozone’s industrial output saw its largest drop in three years in November. [Wall Street Journal]
  • Corporations in the UK are lowering their tax rates by pushing more profits overseas. [Bloomberg]
  • JP Morgan Chase is considering releasing a report blaming CEO Jamie Dimon for the “London Whale” trade that cost the bank more than $6 billion. [Bloomberg]
  • A court ruled that Kansas is unconstitutionally underfunding its schools by $400 million. [Reuters]