‘A magnet for rip-off artists’: Fraud siphoned billions from pandemic unemployment benefits
Identity theft and sophisticated criminal schemes siphoned billions from pandemic unemployment benefits while government officials were unprepared to deploy relief aid.
Fed chair says interest rates should have gone up sooner
Powell’s comments to Marketplace showed a sharper sentiment of regret than past remarks on the issue. The Fed has faced criticism for delaying interest rate hikes and ending stimulus-era financial supports, which work together to cool off the economy and bring prices down.
Senate confirms Jerome Powell to second term as Federal Reserve chair
Much of his legacy now depends on whether the central bank can prevent a recession.
GOP opposition leaves covid aid in peril as White House warns of surge
The Senate is still stuck on whether to spend $10 billion on tests, therapeutics and vaccines nationwide.
Economist Lisa Cook to become first Black woman on Fed board
Cook’s confirmation comes as the Federal Reserve is trying to slash inflation and stabilize a recovery that serves all Americans.
Federal watchdog opens ‘review’ of Tex. use of covid aid on border crackdown
The investigation comes after a Washington Post report on the state’s budget transfers.
How federal pandemic aid helped Texas pay for its border crackdown
Texas has relied indirectly on money it received under a 2020 covid spending law to help pay for Operation Lone Star, its border enforcement plan
Bank regulators aim to narrow gaps in access to loans
The regulators are proposing updates to the historic Community Reinvestment Act, which was crafted to encourage banks to lend in low-income neighborhoods.
Fed hikes rates by half a percentage point in fight against inflation
The sharpest rate increase since 2000 comes as the Fed tries to slow down the economy without thrusting it into a recession.
With Roe at risk, GOP faces pressure to support families after a birth
Republican supporters of policies to help children say new restrictions on abortion should change political calculus.
Amazon and Starbucks union workers could be invited to White House
The move comes after the White House had said it would resist picking sides in high-profile union disputes.
White House officials weigh income limits for student loan forgiveness
Senior aides of President Biden have examined limiting the relief to people who earned less than $125,000 or $150,000 as individual filers for the previous year.
The White House tries to adjust to changing economy
The administration has faced complicated economic news amid an unusual recovery from a recession
Democrats unveil new push to punish oil and gas giants for high prices
The new push reflects a renewed sense of urgency among party lawmakers, who returned to Washington this week after hearing an earful from voters who have seen the costs of housing, groceries and other goods spike at their highest rate in roughly four decades.
Senate confirms Lael Brainard to be Federal Reserve vice chair
Votes are expected this week on President Biden’s other nominees to the central bank, including Jerome H. Powell to a second term as chair.
Fears mount inside White House that Manchin won’t agree to any deal
Biden has little to show for months of trying to woo the West Virginia senator over his expansive economic agenda.
Ukraine asks U.S. for $2 billion per month in emergency economic aid
The country's finance minister said in an interview that the funding is necessary for Ukraine's immediate economic needs.
Congress returns to battles over spending as inflation looms
Democrats aim to enact additional aid and refashion a social spending initiative.
Western leaders walk out as Russian officials address G-20
World leaders have gathered in D.C. for meetings of national finance ministers.
The U.S. will boycott some G-20 meetings to protest Russia’s invasion
The U.S. treasury secretary is set to skip meetings of international leaders over Russia's presence.