ECONOMIC POLICY

Bill to grant crypto firms access to Federal Reserve alarms experts

A new Senate bill would help crypto firms access the Fed's payment system. But financial experts warn the move could destabilize the banking system.

By Tory NewmyerJuly 3, 2022

GOP officials back Hungary’s resistance to global tax deal, bucking Biden

Viktor Orban’s foreign minister says he is ‘constantly’ consulting Republican lawmakers on opposition to plan to tax multinational firms

By Jeff SteinJuly 1, 2022

U.S. freezes $1 billion of Russian oligarch’s assets hidden in Delaware

Treasury Department announces new sanctions on trust of Suleiman Kerimov, a billionaire with ties to Vladimir Putin.

By Jeff SteinJune 30, 2022

Democrats forge ahead on drug pricing, eyeing wider deal with Manchin

Democrats hope it can pave the way for them to resolve their other differences with Manchin, with the goal of bringing a final bill to the floor in late July.

By Tony RommJune 29, 2022

U.S. sends Ukraine $1.3 billion in emergency economic aid

The Ukrainian economy is estimated to contract by as much as 45 percent in 2022 as allies pledge assistance.

By Jeff SteinJune 29, 2022

Taiwan official calls for approval of U.S. computer chip subsidies

Taiwan says the failure of the Congress to pass subsidies for chip manufacturing will slow plans for new chip factories in the United States.

By Jeanne WhalenJune 28, 2022

Biden aides seek to unlock Afghan reserves without enriching Taliban

After earthquake, aid groups warn of humanitarian crisis if the U.S. keeps Afghanistan cut off from the global economy.

By Jeff SteinJune 28, 2022

Democrats race to revive economic package as inflation spikes

Economic peril has fueled new urgency on Capitol Hill, where Democrats hope to resolve their differences and deliver on the promises they made last election.

By Tony RommJune 27, 2022

2 huge chip makers warn of expansion delays as subsidies bill languishes

One year after the Senate passed $52 billion in subsidies for computer chip manufacturers, the funding still isn’t signed into law.

By Jeanne Whalen and Marianna SotomayorJune 23, 2022

IRS has backlog of 21.3 million paper tax returns, watchdog says

The backlog is "crushing" the taxpayer agency, according to a new watchdog report.

By Jeff SteinJune 22, 2022

Fed chair acknowledges that higher interest rates could cause a recession

Powell is appearing before the Senate Banking Committee as the Fed ramps up its effort to slash inflation from 40-year highs.

By Rachel SiegelJune 22, 2022

The comedown: After stimulus boom, Americans face a darkening economy

Pandemic-era aid ended as prices spiked — and now the middle class is feeling squeezed again

By Jeff SteinJune 21, 2022

U.S. policymakers misjudged inflation threat until it was too late

This timeline provides an overview of some of the key moments in the inflation story over the last year, and how it has bedeviled the leaders of the White House and Federal Reserve.

By Mike Madden and Rachel SiegelJune 18, 2022

White House exploration of gas rebate cards complicated by chip shortages

The Biden administration is bracing for further fuel spikes but sees little recourse.

By Jeff Stein and Tyler PagerJune 17, 2022

Fed raises interest rates by largest amount since 1994 to fight inflation

The Fed is taking strong tactics to tackle inflation after prices soared even higher in May.

By Rachel Siegel and Abha BhattaraiJune 15, 2022

What will the Fed’s rate hike mean for consumers?

The Fed raised interest rates by three-quarters of a percentage point in an attempt to temper record inflation. Here's what consumer need to know.

By Hamza ShabanJune 15, 2022

Average U.S. gas prices top $5 a gallon, as surging energy costs squeeze economy

The upward march of fuel costs has emerged as one of the chief domestic political threats to the Biden administration ahead of the midterm elections.

By Jeff SteinJune 11, 2022

White House shifts pandemic money to vaccines, cutting other programs

With additional funds still stuck in Congress, the money will come from other pandemic programs.

By Tony RommJune 8, 2022

U.S. watchdog warns unemployment benefits are at ‘high risk’ of fraud, abuse

The warning came amid a raft of new reports on challenges facing the country’s jobless aid programs.

By Tony RommJune 7, 2022

How the White House lost Joe Manchin, and its plan to transform America

Inside the rift between the president and his 50th Senate vote that has thwarted Democrats' ambitions.

By Jeff Stein and Tyler PagerJune 5, 2022