Business

The Federal Reserve just said it would extend "Operation Twist."

We talked about Operation Twist earlier this month, when we spoke with Joseph Gagnon, a former Fed economist now at the Peterson institute.

We wrote:

Update at 12:33 p.m. ET. Fed Extends 'Operation Twist':

The Federal Reserve said it was extending its "Operation Twist" through the end of year. It will add $267 billion more to the program in which the Fed sells some of its medium-term bonds in order to buy longer-term ones. In theory, that pushes down the interest rate on longer-term loans, especially mortgages.

Related: What America Spends On Groceries

Out of every $100 American consumers spend, about $1 goes to alcohol. That hasn't changed much over the past 30 years.

But where we spend our money on alcohol has changed quite a bit. We spend a bigger chunk of our booze money in bars and restaurants. We spend less money buying alcohol at the store to drink at home.

Linda Wertheimer talks to Dr. Ian Roberts, of the London School of Hygiene and Tropical Medicine. Roberts led the research on a new study on global obesity. It shows that weight, not just population size, should be taken into account when planning how to deal with increasing pressure on resources.

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RENEE MONTAGNE, HOST:

And our last word in business is: supersized couch potato.

This week, Japanese electronics maker Sharp unveiled what it's calling the biggest LED TV on the planet. The 90-inch set has WiFi built in and you can buy it with a webcam option. You could, say, Skype with 50 people at once and see all their faces.

LINDA WERTHEIMER, HOST:

Of course, you would need a lot of wall space and a fat wallet. It cost $11,000.

That's the business news on MORNING EDITION. I'm Linda Wertheimer.

Leaders of the world's biggest economies wrapped up the G-20 summit in Mexico Tuesday with a promise to work together to promote jobs. The meeting comes amid worrisome signs of slowing growth in the United States and elsewhere.

Federal Reserve policymakers release their latest statement on the economy Wednesday, and Chairman Ben Bernanke will attempt to explain the Fed's actions in a post-meeting news conference. There are several things the Fed could do to try to boost growth, but whether they'd be effective is debatable.

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RENEE MONTAGNE, HOST:

Now, to policy making with some fizz. The mayor of Cambridge, Massachusetts, has proposed limiting the size of sodas and sweetened drinks that can be sold in the city.

Henrietta Davis said she was inspired by the mayor of New York. Michael Bloomberg has proposed a ban on sales of oversized sugary drinks in his city's restaurants. Mayor Davis says soda is a factor behind increasing obesity and heart disease among young people.

The top news from Capitol Hill testimony today by JPMorgan Chase CEO Jamie Dimon is that he says "the bank did its best to fully inform investors about its risk strategy several weeks before it suffered a $2 billion-plus trading loss," The Associated Press reports.

But the quote from him that seems to be getting the most attention came in response to a question from Rep. Sean Duffy, R-Wis., who wanted to know if the bank could ever lose "a half a trillion dollars or a trillion dollars?"

Microsoft announced yesterday that it was jumping into the tablet market with "Surface." That foray has been hotly anticipated and analysts believe with sales of PCs falling, it's an important move for the company known more for its software than its hardware.

Now that the tech writers have had a chance to get their hands on the device, we've rounded up a few of their first impressions:

Nearly everybody has to fill a prescription now and then. For a lot us, there are several to fill each month.

To make it easier, some companies are adding drug dispensaries to their on-site health clinics. Others offer concierge services that deliver drugs right to workers' desks.

Now, it's true that people could also fill their usual prescriptions by mail, something many employers and managers of pharmacy benefits encourage with lower copays.

The cost to build a Toyota Prius hasn't changed much in the past five years — if you measure the cost in Japanese yen. But if you measure the cost in dollars, it's a different story. In 2007, it cost Toyota about $16,000 to build a Prius. Now, it's more like $24,000.

That's because the value of the yen has risen relative to the dollar. In 2007, $1 bought 124 yen; today, $1 buys just 79 yen.