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Labor Secretary Marty Walsh is claiming that it will be a "bigger catastrophe" for the U.S. economy if Congress does not pass a bipartisan "comprehensive immigration reform" package - something the Biden administration …
The U.S. Federal Reserve raised the benchmark interest rate by 75 basis points for the second consecutive month on Wednesday as it intensifies the fight against 40-year-high inflation. The Federal Open Market Committee voted unanimously …
U.S. Treasury Secretary Janet Yellen said on Sunday that U.S. economic growth is slowing and she acknowledged the risk of a recession, but she said a downturn was not inevitable. Yellen, speaking on NBC's "Meet the Press," …
The U.S. Federal Reserve raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic …
U.S. President Joe Biden warned the country risks losing its economic advantage in the world without large-scale investments in its own infrastructure. "We’re at an inflection point. Every — anywhere from 40 to 80 years …
The U.S. debt ceiling officially became operative again on Sunday after a two-year suspension, with lawmakers in Washington yet to outline how they’ll avoid a potential default later this year. The debt limit - the total …
The U.S. Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day …
The U.S. Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday, nodding to the U.S. economy's growing strength but giving no sign it was ready to reduce its support for the recovery. The Fed …
U.S. President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6% to help pay for a raft of social spending that addresses long-standing inequality, according to people familiar with the …
Treasury Secretary Janet Yellen said today that the $1.9 trillion American Rescue Plan, which passed in the Senate on Saturday, will benefit the economy, and she said she hoped the country and economy would be "back to full …
The S&P 500 (SPX) closed at an all-time high on Tuesday for the first time since the Covid-19 pandemic hit the United States. The index, which is the broadest measure of Wall Street, had been hovering in record territory for …
The U.S. Federal Reserve moved to hold its key interest rate steady amid what it said is "tremendous human and economic hardship across" the U.S. caused by the coronavirus pandemic. The fed was widely expected to continue …
With cases of Covid-19 likely to resurge, at least in some parts of the country, the U.S. economic recovery will be neither smooth nor strong, Minneapolis Federal Reserve Bank President Neel Kashkari said. "My base-case …
U.S. President Donald Trump launched his first attack against the Federal Reserve in months, taking issue with the central bank’s subdued economic forecast. "The Federal Reserve is wrong so often," Trump wrote on …
U.S. Federal Reserve Chairman Jerome Powell doesn't think that the Great Depression is a suitable comparison to the U.S. economy during the coronavirus pandemic. "I don't think that the Great Depression is a good …
The U.S. Federal Reserve System acting as the national central bank has kept the base interest rate at the level of 0-0.25% as expected by the market, the Federal Open Market Committee (FOMC) said after the meeting. "The …
Treasury Secretary Steven Mnuchin predicted the U.S. economy hit hard by the coronavirus pandemic would rebound this summer and early in the fall. "I think as we begin to reopen the economy in May and June …
For the fifth week in a row, millions of American workers applied for unemployment benefits, seeking financial relief as businesses remained closed during the coronavirus pandemic. First-time claims for unemployment benefits …
U.S. President Donald Trump has announced it is time to start "opening up America again" as he published guidance for how states can get people back to work and reopen schools and businesses. The 18-page …
The U.S. Federal Reserve and global central banks moved aggressively to buttress a world economy unraveling rapidly amid the coronavirus pandemic, with the Fed slashing interest rates to 0.25%. The Fed lowered the primary credit rate by …
