Housing prices fell again in March—but barely—stirring hopes that perhaps the market may finally be on the rebound. “We’ve turned the corner,” said Scott Brown, chief economist at Raymond James & Associates. “This was always going to be a very gradual process. No one expected a real sharp housing recovery.”
The New York Times' big story today, detailing President Obama’s role in the country’s counterterrorism efforts, should ignite a slow burn of new coverage and heated questions in the upcoming weeks. The scene, which presents Obama looking through Al Qaeda members' biographies and making the final life-or-death call of which suspects make their way onto what the Times calls "macabre 'baseball cards' of an unconventional war," feels ripped right from the third episode of The West Wing, "Proportional Response," where President Jed Bartlet struggles with the difficult decisions of war, in a cinematically presidential way.
Finance ministers from the 17 eurozone countries agreed this week that it's time to make contingency plans in case Greece drops out. While some leaders—like new French President François Hollande—have floated offering eurobonds to struggling member states like Greece and Spain, German Chancellor Angela Merkel is standing her ground. "We want Greece to remain in the eurozone," Merkel said after yesterday's European Union summit. "But the precondition is that Greece upholds the commitments it has made."
Unless Congress and the White House work together to manage the budget sequestration and tax hikes scheduled for the end of the year, the economy could plummet into a mild recession—growth contracting by an estimated annual rate of 1.3 percent—according to the Congressional Budget Office.