It's been a record hot summer in many cities across the nation. Phoenix is no exception. This Sonoran Desert metropolis already records more days over 100 degrees than any other major U.S. city. Now, climate models predict Phoenix will soon get even hotter.
A hotter future may mean a more volatile environment — and along with it, natural disasters, greater pressure on infrastructure, and an increased physical toll on city residents.
Mitt Romney's new running mate has authored some provocative policy proposals to cut budget deficits and overhaul Social Security, Medicare and Medicaid. But Rep. Paul Ryan has also been an advocate for a different course for the central banking system of the United States, the Federal Reserve.
For the past 35 years, the Fed has had a dual mandate from Congress: to set interest rates at levels that will both foster maximum employment and keep prices stable. Put another way, the Fed's goals are to get unemployment as low as possible while keeping inflation in check.
Originally published on Tue August 14, 2012 2:27 pm
Britain's fifth-largest bank has agreed to pay $340 million to settle charges by New York regulators that it laundered money for Iranian clients.
NPR's Chris Arnold filed this report for our Newscast unit:
"In court documents, the regulator alleged that for 10 years Standard Chartered Bank quote 'schemed with the Government of Iran and hid from regulators roughly 60,000 secret transactions... involving $250 billion dollars and reaping hundreds of millions of dollars in fees for the bank.'
Now, that Mitt Romney has chosen his running mate, Vice President Joe Biden knows who the competition is. And Biden has been talking about Paul Ryan on the campaign trail.
VICE PRESIDENT JOE BIDEN: The very plans the congressman voted for and promoted for 12 years and the governor supported put America's greatness in jeopardy. How do they think we got in this spot in the first place? What do they think happened? As my little youngest granddaughter would say, was it Casper the Ghost, Pop?