NPR 2009-09-16

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Federal Reserve Board Chairman Ben Bernanke said today he thinks the US economy has begun growing again though the Fed Chairman also said the overall economy is likely to still feel weak for some time. Speaking at the Brookings Institution in Washington, Bernanke said that would include little in the wave of jobs growth anytime soon.

Many people will still find that their job security and their employment status is not what they wish it was, so that's a challenge for us and all policy makers¹ going forward.

US economy has lost an estimated 6.9 million jobs since the start of the current recession in December of 2007.

Meanwhile the US economy is showing some other signs of its continuing demand that the Commerce Department today reported retail² sales were stronger than expected. NPR's Chris Arnold reports.

The Cash for Clunkers program gave a big boost to car sales, but Americans were also opening their wallets to buy at least somewhat food and beverages³, books and electronics. That helps the economy. Still are some unwelcome news that gasoline prices jumped up 23% in August. Brian Bethune is an economist⁴ at Global Insight.

This is kind of a situation where these see the glass half full or half empty and really what we’re seeing is the pickup⁵ in the global economy, which is very positive because it's helping⁶ to drive export higher, however, at the same time it is putting up great pressure on crude oil prices.

Gas prices are still down at 30% from a year ago. And Bethune says when you take out volatile⁷ food and energy prices, the prices of most goods in the US are not rising very quickly. So he's not worried about inflation. Chris Arnold, NPR News.

Nine American Airlines employees were among more than 20 people  arrested on drug smuggling⁸ charges in San Juan Puerto Rico today. NPR's Adam Hochberg reports.

Prosecutors⁹ say the nine members of American Airlines ground crew helped smuggle¹⁰ thousands of kilograms of cocaine¹¹ into the United States over the past decade. According to Federal officials, the drugs originated in South America and the Caribbean and ended up in Florida, New Jersey¹² and other places on the US mainland. The alleged¹³ leader of the smuggling ring is an Airline employee. Several of those charged are baggage handlers. The Associated Press reports the drug enforcement agents and Puerto Rican police swarmed¹⁴ the airport making arrests. One  alleged member of the drug ring was apprehended¹⁵ in Miami. A spokesman for American Airlines said the company is working with investigators¹⁶ and condemned¹⁷ the employees’ alleged action. But the company also noted¹⁸ that the nine people arrested make up a tiny fraction of its workforce¹⁹. Adam Hochberg, NPR News.

Discussion is taking place on the House Floor today what is shaving up to be a partisan²⁰ debate over a resolution that would formally criticize South Carolina Republican Congressman²¹ Joe Wilson, whose outburst during President Obama's speech on healthcare last week. Wilson has apologized to the President in a phone call but some Democrats²² have said that's not enough, calling for an apology on the House Floor.

On Wall Street today, the Dow Jones Industrial Average closed up 56 points. The NASDAQ gained ten points today.

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There were reports of mortar²³ firing in Baghdad's Green Zone today. The blast which was said to have included at least four mortar rounds coincides with the visit to the heavily fortified²⁴ region by Vice-President Joe Biden. Officials say the shells were fired from across the Tigris River with no immediate²⁵ word on casualties or damage. Biden arrived in Baghdad early today as the White House seeks to show it remains²⁶ focused on Iraq War despite recent pullbacks and an increasing focus on the war in Afghanistan. Vice-President’s trip comes as the nation's top military officer told members of the Senate Armed Services Committee today more troops will probably need to go to Afghanistan.

UN Refugee Agency is giving this year’s Nansen Refugee Award to late Senator Edward Kennedy in recognition of his achievements as a lifelong advocate on behalf of the world's most vulnerable people. Lisa Schlein reports from Geneva.

UN refugee spokeswoman Melissa Fleming says the awards committee made its decision in June and informed Senator Kennedy who welcomed the prize. Even after his death, she says his work on behalf of refugees will be remembered.

Senator Kennedy stood out as a champion for those who suddenly found themselves with no voice and no rights. Year after year, conflict after conflict, he put the plight²⁷ of refugees on the agenda and drove through policies that saved and shaped countless²⁸ lives.

The award carries with it a 100,000-dollar prize to be donated to a refugee cause. Fleming says the prize will be awarded to a member of Kennedy's family on October 28th in Washington. For NPR News, I'm Lisa Schlein in Geneva.

Crude oil futures²⁹ rose $2.07 a barrel to end the session at $70.93 a barrel in New York.