Econ 101: September 8, 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.

  • The Organization for Economic Cooperation and Development yesterday “slashed its growth forecasts for the U.S. and Japan and said central banks around the world should be ready to ease monetary policy if economies weaken further.” [Bloomberg]
  • Members of the Federal Reserve “are laying the groundwork for further action at this month’s meeting, warning that U.S. economic growth could stall, producing lasting stagnation in the job market.” [Bloomberg]
  • President Obama is set to unveil a $300 billion jobs package tonight, “but economists say the package won’t be enough to change the struggling economy’s trajectory.” [CNN Money]
  • Chicago Federal Reserve President Charles Evans said yesterday that U.S. economic conditions “aren’t much different from an economy still in recession.” [CNBC]
  • “The pursuit of austerity measures and deficit cuts is pushing the world economy toward disaster in a misguided attempt to please global financial markets,” according to a United Nations report. [Reuters]
  • Democratic members of the fiscal super-committee that was created by the debt ceiling deal want the committee “to include job creation as part of its work.” [Associated Press]
  • The House of Representatives voted on yesterday “to renew a long-standing program that allows about 130 developing countries to export thousands of goods to the United States without paying duties.” [Reuters]
  • Senate Finance Committee Chairman Max Baucus (D-MT) “has scheduled a series of hearings this month on taxes, sending a reminder that congressional tax-writing committees, and not the new debt supercommittee, could have the final say when it comes to tax reform.” [The Hill]