Econ 101: July 26, 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 may be the lone bright spot for auto sales this year. [CNBC]
  • The U.S. Department of Agriculture is projecting that food prices will grow faster than other prices in 2012, increasing by 3.5 percent. [Reuters]
  • European lawmakers are considering making rate-rigging a criminal offense in the wake of the LIBOR scandal. [Washington Post]
  • “International debt inspectors” began a new round of talks with the Greek government yesterday. [Associated Press]
  • New home sales fell in June by their largest amount since February 2011, but are still up for the year overall. [The Hill]
  • The House yesterday approved a bill allowing for a full audit of the Federal Reserve by a vote of 327–98. [The Hill]
  • Total foreclosure activity rose in the first half of this year, as banks worked through a backlog of delinquent mortgages. [CNBC]