The latest coverage of the banking and financial sectors.
Whether it’s a towering noble fir, a medium-sized Colorado blue spruce or even a fake plastic evergreen, expect to pay more for your Christmas tree this season.
President Biden has unveiled several steps to address the supply chain crisis dating back to August, but stores are scrambling to keep shelves stocked and prices are rising, with experts saying the problems could persist for at least another year.
President Biden’s decision to nominate Saule Omarova for a top Treasury job has rattled several Senate Democrats because she previously said she wants the coal, oil and the gas industry to “go bankrupt.”
Wholesale prices at the end of October surged by 8.6% since October 2020, the highest year-over-year increase recorded by the federal government since it began tracking the data in 2010, the Labor Department reported Tuesday.
The new federal fiscal year has begun with some good — or at least less bad — news, as Uncle Sam ran a smaller deficit in October than a year ago, according to a new estimate Monday by the Congressional Budget Office.
A rule quietly proposed by the Biden administration would allow companies to consider factors such as climate change, diversity issues and even political donations when selecting employees’ 401(k) plans, potentially forcing workers to funnel some of their pay into “woke” causes.
With inflation at its highest point in three decades, the Federal Reserve is set this week to begin winding down the extraordinary stimulus it has given the economy since the pandemic recession struck early last year, a process that could prove to be a risky balancing act.
The economy slowed to 2.0% growth in the third quarter, marking a sharp slowdown as the delta variant of the coronavirus and supply chain shortages curtailed growth, the Commerce Department reported Thursday.
Sen. Joe Manchin III argued Tuesday that if Republicans refuse to support a bipartisan hike to the debt ceiling, then Democrats have the responsibility of doing it unilaterally.
Former Treasury Secretary Larry Summers’ criticism that the Federal Reserve and other central banks are too focused on “woke” social issues reflects a growing concern that policymakers aren’t paying enough attention to inflation.
An obstacle to large-scale bitcoin mining is finding enough cheap energy to run the huge, power-gobbling computer arrays that create and transact cryptocurrency. One mining operation in central New York came up with a novel solution that has alarmed environmentalists. It uses its own power plant.
The House of Representatives narrowly passed a debt-ceiling increase on Tuesday, averting a default on U.S. debts until at least December when lawmakers will once again face a showdown on the issue.
Members of the House are scrambling back to Washington on Tuesday to approve a short-term lift of the nation’s debt limit and ensure the federal government can continue fully paying its bills into December.
The International Monetary Fund expressed “full confidence” in its managing director Tuesday in response to allegations that while she was a World Bank official, she and others pressured staffers to change business rankings in an effort to placate China.
A proposal to give the IRS access to all financial transactions above $600 is raising concerns among congressional Republicans about government overreach.
Former President Donald Trump called for Senate Minority Leader Mitch McConnell’s ouster after 11 Senate Republicans voted to help Democrats increase the debt ceiling Thursday night.
Moderate Democratic Sen. Joe Manchin III of West Virginia told Senate Majority Leader Charles E. Schumer that his partisan speech was “f—-ing stupid” after Republicans helped Democrats pass an increase in the nation’s debt limit Thursday night, according to a report.
The Senate narrowly passed a short-term debt ceiling hike on Thursday, averting a default on U.S. debts until at least December when lawmakers will face a showdown on the topic again.
Democrats accepted an offer from Senate Minority Leader Mitch McConnell on Wednesday for a short-term suspension of the debt ceiling, delaying a showdown over the nation’s borrowing limit until December.
Senate Democrats are quietly exploring whether there is sufficient support to exempt raises in the debt ceiling from the chamber’s 60-vote filibuster threshold.
President Biden said Tuesday he backs Federal Reserve Chairman Jerome Powell amid harsh criticism from Sen. Elizabeth Warren, Massachusetts Democrat.
