This Morning On The Stephanie Miller Show

Rep. Jesse Jackson Jr. (D-IL), who was cited in a criminal complaint against Illinois Gov. Rod Blagojevich, went to the U.S. Attorney’s office about alleged wrongdoers, including the Illinois governor, a Jackson spokesman said yesterday. Jackson said that the information he provided was “completely unrelated” to the current investigation regarding the U.S. Senate appointment.

President-elect Obama today will announce former Iowa Gov. Tom Vilsack as his choice for agriculture secretary and Colorado Sen. Ken Salazar as his choice for secretary of the interior, an aide on Obama’s transition team said.

President-elect Obama yesterday nominated Arne Duncan, the head of the Chicago public schools, to serve as his administration’s secretary of education. Obama praised Duncan as the most reform-minded education official in the U.S.

In a bid to bolster the country’s ailing economy, the Federal Reserve System is cutting its benchmark interest rate to its lowest level ever. It is setting the target at a range from 0 to .25 percent. The move marks the first time the Fed has set a range instead of single target. The news drove a rally on Wall Street, with the Dow spiking some 360 points.

Treasury Secretary Henry Paulson said yesterday that he does not expect any more major financial institutions to fail during the current credit crisis.

Senate Majority Leader Harry Reid has indicated that he is urging New York Gov. David Patterson to appoint Caroline Kennedy to the Senate seat being vacated by Hillary Clinton. He told a Nevada television station that he thought Kennedy “would be perfect.”

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