Gas prices up for 7 days in a row
Fresh off a 27-cent jump last month, gas prices were up slightly in a daily survey by motorist group AAA, as the price of crude oil backed off recent highs.
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US vows to put ’squeeze’ on embattled Kadhafi (AFP)
AFP – Top US officials kept up pressure Tuesday on embattled Libyan leader Moamer Kadhafi, vowing to “squeeze him” economically and militarily in hopes of further weakening his tenuous hold on power.
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Regulators: Wall Street reform at risk
Congressional Republicans intent on big spending cuts are on a collision course with Wall Street’s top regulators over a plan to slash millions from agency budgets.
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Egypt delays expected reopening of stock market (AP)
AP – Egyptian officials have again delayed the restart of the country’s stock exchange, a move that brokers said Tuesday would likely only undercut investor confidence in a market many expect to take a hammering as the country struggles to regain footing after massive protests that ousted its longtime president.
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Bernanke to tread cautiously before Congress (Reuters)
Reuters – Federal Reserve Chairman Ben Bernanke will likely remain skeptical about the strength of the economic recovery in testimony on Tuesday, despite recent data pointing to improvement, signaling the central bank is unlikely to cut short its $600 billion stimulus plan.
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Medicaid funding busts state budgets
The Obama administration is giving states more flexibility in implementing the health care reform law, but that won’t help governors plug one of their biggest immediate budget problems: Runaway Medicaid costs.
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Japan’s jobless rate unchanged in January (AP)
AP – Japan’s jobless rate held steady in January but consumer spending fell from a year ago, the government said Tuesday, underscoring the fragility of its economic recovery even as a political battle rages over the next national budget.
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Rates rise at weekly Treasury auction (AP)
AP – Interest rates on short-term Treasury bills rose in Monday’s auction to the highest levels in three weeks.
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Government shutdown may be averted … for now
Spoiler alert: There’s now a good chance that the federal government will not shut down on Friday night, when the latest stop-gap funding measure expires.
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US consumers cautious in spite of tax cuts
Federal tax cuts boosted US incomes in January but cautious consumers held back on spending in light of continued economic uncertainty
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