Toyota recall involves 885,000 vehicles with leaky air conditioning filters that could cause problems with airbags. In some cases, spiders may be at the heart of the problem that prompted the Toyota recall.
A government shutdown would reduce GDP growth by an estimated 0.2 percentage points for every week it goes. Earlier congressional actions on the payroll tax expiration and the sequester have already weakened economic growth, as seen by the latest numbers.
Fed decision not to taper buoyed Wall Street, but James Bullard, head of the Federal Reserve Bank of St. Louis, says a cutback in bond-buying could come as early as next month, depending on the economy. Also this week, housing posts mostly strong numbers, JPMorgan agrees to nearly $1 billion settlement, and the owner of Olive Garden and Red Lobster cuts jobs.
The Federal Reserve and Fed Chief Ben Bernanke surprised Wall Street by announcing the Fed would not reduce its stimulus purchases to boost the economy. Because mortgage rates had surged in anticipation of a Fed move, Wednesday's announcement could send mortgage rates down and give the housing market a big bounce.