"The U.S. economy has continued to recover, but economic activity appears to have decelerated somewhat during the first half of this year," Federal Reserve Chairman Ben Bernanke tells Congress this morning in testimony prepared for his semiannual report on economic conditions and monetary policy.
"Police at Amsterdam's Schiphol Airport say they still do not know how needles got into turkey sandwiches on Delta Air Lines flights from Amsterdam to the United States, but are investigating," The Associated Press reports.
Originally published on Fri August 24, 2012 11:00 am
Last week, on a trip to New York City from Washington, D.C., I found myself talking about economics with a British intern sitting next to me. He asked a disarmingly simple question: Could the U.S. ever find one state asking others to bail it out, similar to the way Greece or other countries are seeking aid from other nations in the European Union?
My instinct was no — but I had to think about why. As it turns out, two economists in D.C. have written a concise history that helps explain the answer.