In the past three months, the nation's economy has slowed. This winter, the US was adding nearly 25 million new jobs a month. During the spring and summer that fell off dramatically. In his most recent remarks before congress, Chairman Ben Bernanke testified to the Federal Reverse, he would do more to spur the economy if it didn't improve. Those comments led some to speculate that Fed would today launch a third round of so-called quantitative easing, buying treasures and injecting more money into the financial system to boost growth. Instead, the Fed said it would extend the program to push long term interest rates down, continue to support home lending and keep short term interest rates near zero until at least 2014. Steve Hen, NPR News.

 

 

The Institute for Supply Management says manufacturing shrank in July, for a second straight month, though, at a somewhat slower pace than it did in June. 

 

 

A top Pentagon official warns automatic spending cuts would force the military to cut back on training for fighters preparing to go to war. Deputy Defense Secretary Ashton Carter testified today before a house panel.

Some later deploying units, including some deploying to Afghanistan could receive less training, again especially in the Army and Marine Corps. 

Carter also told lawmakers if congress fails to come up with a budget plan to avoid the cross-the-broad spending cuts. The Pentagon will also have to reduce the number of planes it's planning to buy and delay ship construction.

 

 

At the Olympic Games in London today, US swimmer Nathan Adrian has won the gold in the 100-meter freestyle competition. Meanwhile, the American women's gymnastic team got a call from the president. NPR's Ari Shapiro reports President Obama called from Air Force One this morning on route to Ohio to campaign.

In Mansfield, Ohio, the president sang the praises to the US Olympic athletes. He said he understands the runners, they run like he does only faster and same thing with the swimmers. But the gymnasts I don't understand how they do, what they do.

I told those young ladies, as I was congratulating them, how do you not bust your head every time you are on that little balance beam? I couldn't walk across that balance beam.

He said the Olympics remind us set for all our differences were Americans first. President Obama is campaigning for two days this week with a pair of Wednesday stops in Ohio, and events Thursday in Florida and Virginia. Ari Shapiro, NPR News, traveling with the president.

 

 

Just before the close on Wall Street, the Dow was done 32 points at 12,976; the NASDAQ was down 19. 

This is NPR News.

 

 

Defense Secretary Leon Panetta is in Israel assuring officials that the Obama Administration will consider using military force against Iran to stop its nuclear activities if all peaceful efforts are first exhausted. But standing by Panetta's side in Jerusalem, Israeli Prime Minister Benjamin Netanyahu said the threat of strikes and US statements of unity with Israel are failing to convince Tehran the west is serious about stopping their nuclear program. 

 

 

Health officials in New York city are getting ready for new campaign to encourage new mothers to breastfeed. NPR's Joel Rose reports dozens of hospitals in the city will tout its benefits. 

The program is called Latch On NYC, though critics say it gives new meaning to the term manning state. Participating hospitals will ask mothers to listen to talks about why breast milk can be better than baby formula. Those hospitals will no longer hand out formula for free except for medical reasons or if mothers ask for it. New York Mayor Mike Bloomberg is one of the program's backers. 

Most public health officials want to encourage women to breastfeed at least for the first couple of weeks, because the outcomes are better.

Bloomberg says the choice about whether to breastfeed still rests with mothers. But critics say the government should not try to influence that decision. Joel Rose, NPR News, New York.

 

 

The Agriculture Department today added 218 counties to the government's lists of natural disaster areas, mostly because of the widespread drought. That brings the total to nearly 1,600 counties in 32 states. The declaration makers farmers and ranchers in those areas eligible for federal aid.