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Marketplace Morning Report for Thursday, August 2, 2012

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Episode Description 
The Fed announced yesterday that it is prepared to act if the economy gets worse -- But for now, nada. Which brings us to the European Central Bank, which is holding a meeting today in Frankfurt and might have a little something up its sleeve for the global economy. On Capitol Hill today, a House Committee is looking into the effects of the Supreme Court's ruling on health care; Specifically, just how the IRS will assess a tax on people who don't carry health insurance. Later this morning, Freddie Mac will tell us what the average interest rate is right now on a 30-year fixed mortgage. Last week, the rate fell below 3.5 percent for the first time in 60 years of record keeping. You might think a housing recovery is near.

PODCAST: The ECB makes a statement, Americans like coffee

The Fed announced yesterday that it is prepared to act if the economy gets worse -- But for now, nada. Which brings us to the European Central Bank, which is holding a meeting today in Frankfurt and might have a little something up its sleeve for the global economy. On Capitol Hill today, a House Committee is looking into the effects of the Supreme Court's ruling on health care; Specifically, just how the IRS will assess a tax on people who don't carry health insurance. Later this morning, Freddie Mac will tell us what the average interest rate is right now on a 30-year fixed mortgage. Last week, the rate fell below 3.5 percent for the first time in 60 years of record keeping.

Goldman Sachs to fund $10 million city jail program

The program in New York City is designed to keep young men from re-offending.
Posted In: Goldman Sachs, prison

European Central Bank disappoints investors with non-action

Investors had been hoping that ECB President Mario Draghi would unveil something big to help solve the European debt crisis. Instead, Draghi offered only vague commitments.
Posted In: ECB, Europe debt crisis, Mario Draghi

Mario Draghi maintains uncertainty surrounding Europe

In Frankfurt, the head of the European Central Bank Mario Draghi held a press conference. Everyone was waiting to see whether Draghi would announce new stimulus measures, after saying last week that he'd do whatever it takes to save the euro.
Posted In: ECB, Mario Draghi

ECB Mario Draghi holds press conference

The head of the European Central Bank, Mario Draghi, is holding a press conference right now in Frankfurt. And global markets are hanging on his every word. That's because he said last week he'll do whatever it takes to save the euro, and today is the day we find out what that means.
Posted In: ECB, Mario Draghi

Americans see need for more jobs... and coffee

Tomorrow, we'll get a reading on job creation for the month of July from the Labor Department, and whether it's a good or bad report, it's sure to have impact on the presidential race. Plus, the latest data on how many people in America are drinking coffee.
Posted In: Jobs, 2012 election, coffee

Japanese electronic companies suffer losses

In Japan, two big electronics companies are reporting disappointing earnings this morning. Sony is reporting a $316 million quarterly loss. And Sharp announced a $1.2 billion loss, which was much worse than expected.
Posted In: Sony, consumer electronics, Japan

Federal Reserve, European Central Bank weigh options

The Fed announced yesterday that it is prepared to act if the economy gets worse -- But for now, nada. Which brings us to the European Central Bank, which is holding a meeting today in Frankfurt and might have a little something up its sleeve for the global economy.
Posted In: Federal Reserve, European Central Bank, stimulus

Housing market has hit bottom, but will remain flat

Don't believe those real estate agents when they say the housing market's hit bottom and is going to rebound. The market is going to be flat for a long time to come.
Posted In: Housing

How the IRS will enforce health care 'tax' penalty

The House Oversight Committee examines how the IRS will collect taxes from people who fail to buy health insurance under the Affordable Care Act.
Posted In: IRS, health care insurance

Orlando is 'purple' when it comes to political donors

Central Florida city is a top locale for both GOP and Democratic fundraisers, in a swing state that will play a key role for either Mitt Romney or Barack Obama winning the election.
Posted In: Mitt Romney, Barack Obama, campaign finance, Florida

Music from this show

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People Get Up And Drive Your Funky Soul (Remix)
The J.B.'s
Vibrations followed by Poisoned Apples (Interlude)
Para One
Housewife (Instrumental Version)
Dr. Dre