Mitt Romney's new running mate has authored some provocative policy proposals to cut budget deficits and overhaul Social Security, Medicare and Medicaid. But Rep. Paul Ryan has also been an advocate for a different course for the central banking system of the United States, the Federal Reserve.
For the past 35 years, the Fed has had a dual mandate from Congress: to set interest rates at levels that will both foster maximum employment and keep prices stable. Put another way, the Fed's goals are to get unemployment as low as possible while keeping inflation in check.
Originally published on Tue August 14, 2012 3:27 pm
Britain's fifth-largest bank has agreed to pay $340 million to settle charges by New York regulators that it laundered money for Iranian clients.
NPR's Chris Arnold filed this report for our Newscast unit:
"In court documents, the regulator alleged that for 10 years Standard Chartered Bank quote 'schemed with the Government of Iran and hid from regulators roughly 60,000 secret transactions... involving $250 billion dollars and reaping hundreds of millions of dollars in fees for the bank.'
Congressman Paul Ryan is well known as a deficit hawk and supporter of small government. His stances on other hot-button issues though — from abortion to gun rights — have received less attention. Melissa Block talks with David Drucker, associate politics editor at Roll Call, about where the presumptive Republican vice presidential nominee stands on the issues that have been less central to his public persona.
For the next several days, All Things Considered is going to take a few minutes to listen to stump speeches on the campaign trail. We'll hear from Mitt Romney, Paul Ryan, Joe Biden and first, President Obama in Iowa.
In light of this summer's record high temperatures, we find perspective on really hot temperatures. In an experiment, scientists at Europe's CERN laboratory claim to have achieved the highest temperature ever produced by humans — about 5.5 trillion degrees. Audie Cornish and Melissa Block have more.
Originally published on Tue August 14, 2012 2:32 pm
Republican presidential candidate Mitt Romney was in far eastern Ohio on Tuesday — seemingly in the middle of nowhere.
But Beallsville is in the middle of coal country, and this site was carefully chosen. There's a battle over messaging on coal in Ohio, a state with huge coal reserves and an important but troubled coal industry.
Originally published on Tue August 14, 2012 4:10 pm
Last Friday, when Tammy Smith was promoted to Army brigadier general, her wife, Tracey Hepner, was the one who pinned her star on her uniform.
With that, Smith became the first openly gay general in the country. When Smith joined the military 26 years ago, the moment would have been unthinkable. But she explains the historic moment by focusing on its simplicity.
Originally published on Mon October 22, 2012 9:28 am
You've all heard a lot about this year's devastating drought in the Midwest, right? The U.S. Department of Agriculture announced last Friday that the average U.S. cornfield this year will yield less per acre than it has since 1995. Soybean yields are down, too.
Originally published on Tue August 14, 2012 9:08 pm
Delmonico's, the New York City steakhouse, has been around forever.
The New York Public Library's archival menu collection doesn't go back quite that far. But it does have a Delmonico's menu from 1918. The archive also, sort of randomly, has a Delmonico's menu from 1988. Delmonico's current menu is online.