“Experience is helpful, but it is judgement that matters” — General Colin Powell

1. FDIC approves rule on creditors — the FDIC voted to approve regulation that outlines how the government will treat creditors in situations where large, failing financial firms have been seized and liquidated.
2. Apple’s Jobs takes medical leave — Apple (AAPL) CEO Steve Jobs unexpectedly announced that he’s taking a medical leave from the company, his second in as many years and his third absence over the last decade.
3. Eyeing growth, Obama launches regulatory review — President Obama is launching a broad regulatory review, aiming to eliminate federal rules that hamper economic growth.
4. China quarterly growth surges, inflation eases — Gross domestic product was up 9.8% year-on-year in the December-ended quarter and rose 10.3% for all of 2010, according to data released Thursday by the National Bureau of Statistics. Consumer inflation hit 4.6% year-on-year in December

The week ahead — Economic data from Econoday.com: