For the first year since the recession, median household incomes did not decline in 2012. But it's hardly a reassuring picture. Incomes were flat despite the economic recovery and big gains in the stock market. That's a troubling aspect about today's labor market. It's four years since the official end of the recession and many households are worse off than when it started.
In a slap to the United States, Brazilian President Dilma Rousseff announced she is postponing her state visit to Washington. It was scheduled for Oct. 23 and would have been the first state visit of President Obama's second term. The postponement follows revelations that the National Security Agency spied on Rousseff, her top aides and Brazil's state-run oil company.
Now that Larry Summers has withdrawn his name from consideration to lead the Federal Reserve, Janet Yellen, Vice Chair of the Fed, has emerged as the frontrunner. For more on Yellen and her career, Audie Cornish talks with Alan Blinder, a professor of economics at Princeton University.
While NPR's Melissa Block is in Brazil, we'll be showcasing the work of several Brazilian writers. Today: Tatiana Salem Levy, whose short story "Blazing Sun" was featured in the literary magazine Granta. Levy splits her time between Rio de Janeiro, where she's spent most of her life, and Lisbon, where she was born. She calls "Blazing Sun," which is excerpted below, her love letter to Rio.
A few years ago, Brown University commissioned a study of its own historical connection to the Atlantic slave trade. The report found that the Brown family — the wealthy Rhode Island merchants for whom the university was named — were "not major slave traders, but they were not strangers to the business either."
Originally published on Tue September 17, 2013 4:45 pm
When William M. Daley — son and brother of famous Chicago mayors, former Obama White House chief of staff and all-around Democratic pooh-bah — was President Clinton's commerce secretary, he kept in his office a framed passage from Theodore Roosevelt's "Citizenship in a Republic" speech.
"It's not the critic who counts. ... The credit belongs to the man who is actually in the arena."
A decision by a federal judge paves the way for the forfeiture of a 36-story Manhattan building that the U.S. alleges is secretly owned and controlled by the government of Iran.
The court agreed with the United States Attorney for the Southern District of New York that the owners are a front for the Iranian government and therefore in violation of the International Emergency Economic Powers Act, which restricts commerce with Iran.
Originally published on Tue September 17, 2013 4:17 pm
A gunman shoots up a military facility, kills a dozen people and puts a fair chunk of the nation's capital on lockdown.
The political response to Monday's massacre at the Navy Yard in Washington?
Measured, bordering on muted.
From the words of the president to those on both sides of the gun control debate, caution has been the rule, with even the sharpest partisans tending to hold their tongues in the hours still suffused with tragedy.