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 Good morning! Here's what you need to know: 1. The Washington Post reports: "The hugely expensive U.S. attempt at nation-building in Afghanistan has had only limited success and may not survive an American withdrawal, according to the findings of a two-year congressional investigation to be released Wednesday." 2. Yemen President Ali Abdullah Saleh suffered severe burns and shrapnel wounds that will likely prevent him from returning to Yemen anytime soon and raised doubts about his ability to rule. President Saleh is in Saudi Arabia receiving medical treatment. 3. China is taking a huge risk holding so many dollars because the US may deliberately devalue its currency, a senior Chinese official warned yesterday. The FT reports that "Pressure on the dollar has intensified amid heightened concerns that the soft patch in the US economy will ensure that the Federal Reserve sticks to its ultra-loose monetary policy in the near future." 4. Federal Reserve Board Chairman Ben Bernanke yesterday sent a strong signal that the US Federal Reserve is not planning to further loosen monetary policy despite weak economic data. Mr. Bernanke said the recovery “appears to be proceeding at a moderate pace”. 5. Saudi Arabia is leading an effort to have OPEC boost oil production. Iran and Iraq are opposed. OPEC will hold what is shaping up to be its most contentious meeting in years. 6. President Obama yesterday weighed in on Europe’s debate about whether to restructure Greek debt, saying it would be “disastrous” for the US if the crisis led to “an uncontrolled spiral and default in Europe.” 7. Martin Feldstein writes that the US economy is worse than you think. "The drop in GDP growth to just 1.8% in the first quarter of 2011, from 3.1% in the final quarter of last year, understates the extent of the decline. Two-thirds of that 1.8% went into business inventories rather than sales to consumers or other final buyers." 8. GOP presidential candidate Tim Pawlenty outlined an aggressive economic growth plan yesterday in a speech at the University of Chicago. The plan received a positive review on the editorial pages of The Wall Street Journal, which was exactly where the speech was aimed. 9. Steve Pearlstein has a review of Mitt Romney's campaign book, "No Apologies." He finds Romney an attractive candidate on some levels and a pandering weasel on others. Mr. Romney has opened up a lead over his rivals for the 2012 GOP presidential nomination. 10. Former US Ambassador to China Jon Huntsman appears ready to go forward with a campaign for the 2012 GOP presidential nomination. He will announce later this month. 11. Politico reports: "Several House Democrats have signed on to support a bill to repeal the Independent Payment Advisory Board, a panel created by the law that is supposed to help control rising costs in Medicare." The IPAB is the centerpiece of President Obama's plan to control healthcare costs. 12. Anthony Weiner continues to bleed to death politically. The entire Democratic Party establishment is cutting him loose. For the latest in politics, visit Politics. Follow us on Twitter and Facebook. | 
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