Originally published on Thu September 22, 2011 11:00 pm
The Federal Reserve can't seem to win.
Stocks around the world fell sharply Thursday, a day after Chairman Ben Bernanke and his Fed colleagues announced their latest plan to cut already-low interest rates in an effort to boost the economy. Analysts said the Fed's "Operation Twist" was actually a signal that the central bank is still extremely worried about the prospects for recovery.
Earlier this month on Morning Edition, Treasury Secretary Timothy Geithner made the case for President Obama's latest jobs plan, saying it "would have a substantial, powerful effect on strengthening the economy." Click here to read and hear his conversation with host Steve Inskeep.
The Pentagon's hunt for an alternative to petroleum has turned a lowly weed and animal fat into something indistinguishable from jet fuel and now the military is trying to kick-start a new bio-fuel industry.
"To flip the line from 'Field of Dreams', if the Navy comes, they will build it," Navy Secretary Ray Mabus said in a recent speech.