Damage estimates run in the billions for hurricane Irene, but with flooding the main culprit, a majority of damage will be items not covered by insurance claims, experts say.
Obama, Bernanke, and Geithner meet as investors worry that political leaders – in the United States and Europe – and central banks can't do much more to support a weak economy.
Probably not, because the Federal Reserve would probably not bounce a check from Treasury. But that might violate the debt ceiling.
US economy added just 18,000 jobs in June, a sign the recovery is dragging. The unemployment rate rose from 9.1 to 9.2 percent. Still, most economists see a pickup in second half of 2011.
Slowdowns in car sales, manufacturing, home sales, and job creation collectively shook the stock market. Both the Dow and S&P 500 fell more than 2 percent Wednesday.
President Obama used his weekly address to announce steps to promote greater domestic oil production and reduce the burden of high gas prices. Republicans say it's not enough.
A year after being bailed out, Greece is on the brink of default. To save itself, it must dump the euro and stop coddling its citizens. European nations must give up the belief that the benefits of capitalism can be accomplished without individual responsibility, risk taking, and rewards.
Closing US federal offices for a few days will have not a lasting impact. What counts is whether the newly elected conservative majority in the House of Representatives keeps its promise to cut the deficit and reign in dangerous levels of government spending.
A potential merger would make a German company majority owners of the New York Stock Exchange, the symbolic headquarters of American capitalism.