Politics: Daily Briefing: New stimulus could come from Fed today

Published by: Clark Barrow on Thursday September 13th, 2012

Clark Barrow

By CLARK BARROW - Also, Obama vows veto of bill dealing with looming fiscal cliff.

DAILY BRIEFING - SUMMARY

· FEDERAL RESERVE - The U.S. Federal Reserve will end its two-day policy meeting Thursday with a public announcement of any new stimulus actions around 12:30 p.m. EST.

· FISCAL CLIFF - The U.S. Chamber of Commerce recently released their annual Labor Day economic briefing on the state of the U.S. economy. The report determined that the economic recovery in the U.S. has been weak and that the U.S. economy is coasting at this point, instead of roaring back, as it usually does after a recession.

· CENSUS - The U.S. Census Bureau on Wednesday released its report on Income, Poverty, and Health Insurance Coverage in the United States in 2011. The report found that median household income declined, the poverty rate was not statistically different from the previous year and the percentage of people without health insurance coverage decreased.

· WHITE HOUSE - The White House on Wednesday formally issued a veto threat on a bill dealing with the fiscal cliff spending cuts slated to come to the U.S. House floor as soon as Thursday.

· ATTACK - The Obama administration vowed to track down those behind the assault on the U.S. consulate in Libya, saying that a pro-al Qaeda group was suspected to have planned and organized the terrorist strike.

o Intelligence officials said there had been threats that Islamic militants might try to take revenge for the recent death of an al Qaeda leader. Despite the threats, the U.S. took no additional actions to better protect U.S. consulates and interests abroad.

o Violent demonstrations continued on Thursday in Cairo, Egypt and hundreds of protesters stormed the U.S. Embassy compound in Yemen's capital and burned the American flag on Thursday.

o On Wednesday, some American lawmakers and policy makers called for the U.S. to suspend financial aid, and possibly security cooperation, to Egypt and Libya.

WHAT WE KNOW

ECONOMIC NEWS

· UNEMPLOYMENT - Applications for U.S. jobless benefits jumped by