Federal Reserve Chairman Ben Bernanke said the Fed is ready to implement "balance sheet actions if necessary."
That means if the Federal Open Market Committee feels that the economic recovery is in danger, it is ready to implement a third round of quantitative easing, or bond purchases intended to bring down long-term interest rates and spur borrowing and spending.
"If appropriate... we remain entirely prepared to take additional action," the chairman said. "We will not hesitate to use them."
As I write this, it's about 1 a.m. in Nepal and, according to National Geographic magazine's iPad app, a group of climbers is camped on the side of Mount Everest, possibly sleeping (though we can't be totally sure), at nearly 21,000 feet. They expect to make a final summit push in early May.
SB 1070, the Arizona immigration law that requires local police to question and detain people suspected of being in the country illegally, has served as a model for similar legislation. Los Angeles Times and Chicago Tribune Supreme Court correspondent David Savage listened in on the arguments.
NPR's Neal Conan reads from listener comments on previous show topics including the Secret Service prostitution scandal, Harvey Weinstein's new movie Bully, and the process of smuggling immigrants over the border.