And while markets rallied on news of the Fed's decision, airline employees rally to support a planned merger of American Airlines and U.S. Airways. Here's their message to the Department of Justice.
AMERICAN AIRLINE AND U.S. AIRWAYS EMPLOYEES: (Chanting) DOJ, say OK. DOJ, say OK. DOJ, say OK.
MONTAGNE: The pilots, flight attendants and other employees from the two carriers converged on Capitol Hill. They asked members of Congress to push the Justice Department to drop its anti-trust suit against the merger.
When UPS told workers that it would no longer offer health coverage for spouses who had their own job-based insurance, it caused a big stir. But the shipping giant has plenty of company.
So many employers are trying to cut back on health coverage for spouses that it has become a trend. The practice began well before the Affordable Care Act passed, and the connection to the law, in some cases, isn't that direct.
If you are trying to buy a home, you just got good news: The Federal Reserve said Wednesday it is not going to try to drive up long-term interest rates just yet.
Stock investors are happy for you. They like cheap mortgages too because a robust housing market creates jobs. To celebrate, they bought more shares, sending the Dow Jones industrial average up 147.21 to an all-time high of 15,676.94.
This is ALL THINGS CONSIDERED from NPR News. I'm Robert Siegel.
A giant of the auto business died yesterday, a few days after he turned 100. Eiji Toyoda was president and later chairman of Toyota. The family name is T-O-Y-O-D-A. Toyoda played a key role in the company going worldwide, especially Toyota's move into the U.S. market. Micheline Maynard covers the automotive industry. She's a contributing editor for Forbes these days. Welcome to the program.
The stock market hit new highs today after the Federal Reserve made a surprise announcement. Investors and economists had expected the Fed to start winding down it's $85 billion a month stimulus program at its policymaking meeting today, but it didn't. As NPR's John Ydstie reports, the Fed said it wanted to make sure a recent improvement in the economy and labor market continued before pulling back its stimulus.
Originally published on Wed September 18, 2013 5:28 pm
The Federal Reserve said today that it is not slowing down its monthly purchase of $85 billion in bonds.
The program is intended to stimulate a sluggish economy and the Fed was widely expected to announce that in light of a recovering economy, it was tapering the bond-buying program. Instead, it delivered a surprise that caused the markets to jump, as the Dow and the S&P closed at record highs.
Originally published on Wed September 18, 2013 2:31 pm
The man behind Beanie Babies, the toy animals that saw their heyday in the mid-1990s, has agreed to plead guilty to tax evasion for failing to report income held in Swiss bank accounts.
H. Ty Warner, 69, has been charged in U.S. District Court with felony tax evasion. The indictment alleges that in 1996, Warner traveled to Zurich to open an account with Union Bank of Switzerland with the intent to "evade and defeat" taxes on $3.1 million in foreign income.
This is TELL ME MORE from NPR News. I'm Michel Martin. Later this hour, we will meet the new Miss America, Nina Davuluri, and we'll find out how she's already gotten a lesson in grace under fire after her Indian-American heritage drew a swarm of haters on the web. It's the first of two conversations we'll have this hour about the interesting politics of beauty right now.
Originally published on Wed October 9, 2013 4:43 pm
A story in the Financial Times caught our eye this week. It was on foreign workers in South Korea.
The story looked at the town of Ansan, where about 7.6 percent of the population is foreign. They come from other Asian countries, as well as from Russia. Here's one of the reasons for the change in South Korea, a highly homogeneous society:
Several hundred people were marching at the University of Alabama to oppose racial segregation among the school's Greek-letter social organizations.
The marchers headed from the university library Wednesday morning to the administration building, where the president's office is. The group was gathered on the steps of the administration building Wednesday morning. They stood behind a large banner that said "Last stand in the schoolhouse door."