MIDDAY UPDATE: Bernanke defends Fed policy, again; possible bipartisan compromise on tax cuts

Federal Reserve Chairman Ben Bernanke appeared on the CBS news program “60 Minutes” for the second time since the end of the financial crisis to defend the Fed’s efforts to boost the economy. Will his pep talk boost consumer confidence?

In Washington, the tax cuts saga continues. Congress could reach a bipartisan compromise on the Bush-era tax cuts, which would likely include an extension of unemployment benefits and a possible extension of tax credits included in last year’s stimulus package.

The U.S. and South Korea have reached a deal on free-trade. This could mean business abroad for U.S. automakers, who were previously shut out of the market.