Federal Reserve Chairman Ben Bernanke speaks to Congress on Thursday, but this time to the Senate Banking Committee. On Wednesday, the Fed chief told the House of Representatives that while a recovery in the U.S. economy continues, "the pace of expansion has been uneven and modest by historical standards."
Carmakers Ford ( F) and General Motors ( GM) report February sales Thursday. Light-vehicle sales in February may have run at a 14.2 million seasonally adjusted annual rate, according to analysts surveyed by Bloomberg. That pace would match January's and be the first time the U.S. posted a 14 million rate in consecutive months since May 2008, Bloomberg said.
Kroger ( KR), the grocery retailer, is expected by analysts to post quarterly profit of 49 cents a share. It earned 46 cents a share a year earlier.
Bank of America ( BAC) plans to introduce a monthly fee for customers with basic checking accounts unless they agree to bank online, buy more products or maintain certain balances, according to The Wall Street Journal . Bank of America pilot programs in Arizona, Georgia and Massachusetts now are experimenting with charging $6 to $9 a month for an "Essentials" account, the newspaper said, which cited a memo distributed to employees. Last fall, the bank pulled back from introducing a new $5 debit-card charge after customers criticized the move. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.