Originally published on Wed June 20, 2012 11:42 am
The Federal Reserve — the nation's central bank — will end its two-day meeting on Wednesday by offering its assessment of the economy, and then declaring its latest plan for making things better.
Investors all over the world will be waiting to hear just how weak — or not — the Fed thinks the U.S. economy is. And they will be watching to see whether the bankers plan to continue trying to stimulate growth by extending two controversial programs, one known as Operation Twist, and the other as quantitative easing.
For the Miami Heat, it's three down, one to go. Last night in Miami, the Heat pulled within one win of an NBA championship, with 104 to 98 victory over the Oklahoma City Thunder. That gives Miami a 3-to-1 lead in the series and a comforting statistic for Heat fans to think about until tomorrow night's game 5. No team in NBA history has come back from a 3-1 deficit in the finals. NPR sports correspondent Tom Goldman joins us now to talk about it.
NPR's business news starts with the Fed in the spotlight.
U.S. stocks rallied yesterday largely on a belief among investors that the Federal Reserve will take further action to stimulate the economy. The Fed concludes a two-day meeting around noon today. Afterwards, Chairman Ben Bernanke will hold a news conference to explain the Fed's strategy.
As NPR's John Ydstie reports, there are several things the Fed could do to try to boost growth, but whether they'd be effective is debatable.
Now, to policy making with some fizz. The mayor of Cambridge, Massachusetts, has proposed limiting the size of sodas and sweetened drinks that can be sold in the city.
Henrietta Davis said she was inspired by the mayor of New York. Michael Bloomberg has proposed a ban on sales of oversized sugary drinks in his city's restaurants. Mayor Davis says soda is a factor behind increasing obesity and heart disease among young people.