Fed Chairman Ben Bernanke "painted a gloomy picture of the U.S. economy in prepared congressional testimony on Wednesday, signaling the central bank would continue to cut a key rate to boost the economy," TheStreet.com reports.
Bernanke's apparent readiness to cut interest rates again has raised concerns that inflation will get out of hand. "Bernanke has really overweighted the economic risks relative to inflation," John Silvia, chief economist at Wachovia Corp. in Charlotte, North Carolina, told Bloomberg.com.
Smart Money shows college students how to get the best financial aid package possible: "As college costs escalate to new heights each year, landing a good financial-aid package has become just as important as the almighty acceptance letter itself."
Business Week looks at whether a Hillary Clinton presidency would be good for American businesses. Although Clinton opposes tax cuts for the wealthy, "Her record and support base indicate she's hardly an enemy of American business interests," the magazine reports.
Despite economic data to the contrary, President Bush said Thursday that the country is not headed into a recession: “We’ve acted robustly,” the president said. “We’ll see the effects of this pro-growth package.”
Obama pulled ahead of Hillary Clinton in terms of campaign fundraising in January. OpenSecrets.org compares the total campaign donations for each candidate and looks into the war chests to see where the money comes from.
Yesterday's exchange between John McCain and Barack Obama over al-Qaida's presence in Iraq signals "that a general-election brawl between the colleagues would center in part on who has the foreign policy experience to lead a country at war," The Washington Post writes.
New York Mayor Michael Bloomberg declared that he will not run for president as an independent candidate. He made the announcement in a New York Times op-ed piece titled "I'm Not Running for President, but ... "
Kenya President Mwai Kibaki and opposition lieader Raila Odinga have reached an agreement to end the political violence that has killed approximately 1,500 people. "We have come to an agreement of a form of coalition government," former UN chief Kofi Annan said.
Former Prime Minister of Thailand Thaksin Shinawatra landed at Bangkok International Airport Thursday after a 17-month exile following a military coup. Thaksin faces corruption charges, but has been released on bail.
"Since Germany revealed that it had bought, for $5 million, the names of 1,400 tax evaders sheltering income in Liechtenstein, the hunt has been on for tax evaders on both sides of the Atlantic," newsmagazine The Atlantic Monthly reports.
A missile strike in the south Waziristan region of Pakistan's border with Afghanistan has killed at least 12 people, according to Al-Jazeera. An unnamed security official told the network that he believed the missile was fired by U.S. forces operating in Afghanistan.
Henry I. Miller, a physician and fellow at Stanford University's Hoover Institution, writes that the push for ethanol will hit the world's poorest people hardest. "The U.N. Food and Agriculture Organization's food price index, which is based on export prices for 60 internationally traded foodstuffs, climbed 37 percent last year, following a 14 percent increase in 2006," Miller writes.
Prince Harry has been secretly serving on the front line in Afghanistan since December, the Guardian reports. The 23-year-old, who is third in line to the throne, is stationed in the dangerous southern province of Helmand as an air controller.
In a cover story titled "What Addicts Need," Newsweek looks at new medications for treating drug and alcohol addiction. "The emerging paradigm views addiction as a chronic, relapsing brain disorder to be managed with all the tools at medicine's disposal."