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The Two-Way
9:28 am
Thu June 7, 2012

Economy Is Poised For More Growth, But 'Fiscal Cliff' Looms, Bernanke Says

A word cloud of Federal Reserve Chairman Ben Bernanke's prepared testimony to the congressional Joint Economic Committee.
wordle.net

Originally published on Thu June 7, 2012 11:37 am

"Economic growth appears poised to continue at a moderate pace over coming quarters," Federal Reserve Chairman Ben Bernanke is telling Congress this hour, and will be supported in part by additional "accommodative monetary policy" from the central bank.

While there's been a slowing in job growth, Bernanke says that Fed policymakers believe household spending has been "relatively well sustained" and are encouraged by "consumer spentiment [that is] ... up noticeably from its levels late last year."

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The Two-Way
9:04 am
Thu June 7, 2012

Greek Unemployment Hits Record High, Is Nearly Double Eurozone Average

An elderly man walked by riot policemen guarding the Interior Ministry in Athens on Wednesday.
Kostas Tsironis AP

Originally published on Thu June 7, 2012 2:14 pm

  • Joanna Kakissis, reporting for NPR

(From Athens, correspondent Joanna Kakissis tells us about the latest news regarding the troubled Greek economy.)

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The Two-Way
8:03 am
Thu June 7, 2012

Japanese Dock Reaches Oregon; Tsunami Debris Arriving Sooner Than Expected

A man looks at the massive dock from Japan that washed ashore on Oregon's Agate Beach this week.
Rick Bowmer AP

Originally published on Thu June 7, 2012 9:42 am

"A massive dock" that was washed away from a city on Japan's northeast coast by the devastating March 2011 tsunami landed this week on an Oregon beach. It's a warning sign that dangerous chunks of debris from that disaster are reaching the Pacific coast of the mainland U.S. much sooner than predicted, The Oregonian reports.

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The Two-Way
7:42 am
Thu June 7, 2012

Jobless Claims Dipped Last Week

There were 377,000 first-time claims for unemployment insurance last week, down 12,000 from the week before, the Employment and Training Administration reports.

But in yet another mixed signal about how the economy's doing, that welcome dip is tempered by the fact that the "4-week moving average was 377,750, an increase of 1,750 from the previous week's revised average of 376,000." Economists watch that average because it offers a slightly larger look at the trend.

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The Two-Way
7:17 am
Thu June 7, 2012

After Big Gain, Markets Look To Rise Again; All Eyes On Bernanke

Originally published on Thu June 7, 2012 9:21 am

Following up on one of the best rallies in months on Wednesday, stock index futures are pointing to a higher start today on Wall Street, Dow Jones Newswires says.

The Associated Press says there are "hopes that Europe is preparing to take action to tackle the region's financial crisis and that the Federal Reserve will consider additional support for the U.S. economy."

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