U.S. employment is stalled, growth is anemic, and the Federal Reserve has decided not to take action for at least another month.
Most economists weren't expecting the Federal Open Markets Committee, which sets the Fed's monetary policy, to announce another round of quantitative easing — a fancy term that basically means the central bank buys bonds to increase the money supply and make borrowing cheaper — at this week's meeting. Still, that's exactly what a number of them think is needed.
Originally published on Thu August 2, 2012 9:55 pm
American gymnast Gabby Douglas has won her second Olympic gold medal of the London Summer Games, winning the individual all-around event to match her performance anchoring the U.S. team's first-place performance earlier this week.
Douglas scored 15.500 or higher in her first three rotations, with an emphatic 15.966 on her vault. Her final score was 62.232.
American swimmer Michael Phelps reacts to winning his first individual gold medal at the London 2012 Games. He beat Ryan Lochte (left) in the men's 200m individual medley final. Phelps completed a historic third consecutive 200m IM Olympic victory.
Russia's Sofya Velikaya (left) fences against South Korea's Kim Ji Yeon in their sabre gold medal bout Wednesday. Because of a limit on medals, there is no women's team sabre title at the London 2012 Games.
It's hard to find a discipline that Team USA has dominated more than the women's sabre. The team is anchored by two-time medalist Mariel Zagunis. And before Zagunis was upset in the bronze medal match Wednesday, five of the six medals that had been awarded since 2004 went to Americans.
As the international envoy to Syria, Kofi Annan was supposed to bridge divides and bring peace and perhaps even a political transition in the country. But his role was an exercise in frustration with both the regime of Bashar Assad and the rebels ignoring ceasefire agreements.
On the diplomatic front, he was also stymied by the gulf that existed between Russia and China and the rest of the U.N., which supported tougher sanctions against Assad.
Ann Romney was in London today to watch the Olympic debut of a horse she co-owns.
During the first day of the individual dressage competition, Rafalca scored 70.243, which landed her in 13th place so far. The event, if you're not familiar, is usually described as a kind of ballet for horses.
Romney seemed satisfied with the performance, which continues tomorrow.
The Mods' New King? Cyclist Bradley Wiggins sits on a chair that looks an awful lot like a throne, after winning an Olympic gold medal Wednesday. Hailed in Britain for his mod tastes and funny tweets, Wiggins celebrated his win by getting "blind drunk," he said.
This month we are collecting your stories about the good things Americans are doing to make their community a better place. Some of your contributions will become blog posts and the project will end with a story that weaves together submissions to make a story of Americans by Americans for Americans.
Near their headquarters in a converted WWII naval building, EarthCorps members — brought in from all over the world — do morning yoga before departing to restore parks and creeks in and around Seattle.