Puerto Rico exits bankruptcy after U.S. judge approves multibillion-dollar restructuring plan
The debt restructuring will require budget cuts for the economically weakened U.S. territory, but it is also likely to lower financing costs.
By Bryan PietschJanuary 19, 2022With new nominees, Biden attempts to assemble most diverse Fed in history
If the picks are confirmed, the seven-member board would have four women and two Black governors.
By Rachel SiegelJanuary 17, 2022The left dreamed of remaking America. Now, it stares into the abyss as Biden’s plans wither.
In 2020, prominent liberals promised major changes to the safety net and climate policy.
By Jeff SteinJanuary 17, 2022Biden administration threatens to rescind stimulus funds from Arizona over anti-mask school policy
The rare demand arrived in a letter issued by the Treasury Department, which said the state’s Republican leader, Gov. Doug Ducey, has 60 days to reprogram the funding in a way that befits its original intent as an investment to combat the spread of the coronavirus.
By Tony RommJanuary 14, 2022Lawmakers begin discussing government spending deal as Democrats eye virus aid, paid leave
The early talks have increased in pace and intensity as lawmakers race to reach a deal before the current agreement is set to expire on February 18 — an outcome that threatens to bring Washington to a halt.
By Tony RommJanuary 14, 2022Biden completes Fed slate with three new nominations
Biden is nominating Sarah Bloom Raskin, Lisa Cook and Philip Jefferson to the Fed’s open seats, per a person familiar with the nomination process
By Rachel SiegelJanuary 13, 2022Brainard questioned on inflation, climate risk issues as part of nomination to become Fed’s second-in-command
Lael Brainard, the only Democrat on the Fed board, was once the top contender to unseat Fed Chair Jerome H. Powell
By Rachel SiegelJanuary 13, 2022Americans visited IRS refund website 632 million times last year as challenges swamp tax agency ‘in crisis’
A watchdog report captures key failures of the tax collection agency last year.
By Jeff SteinJanuary 12, 2022Fed chair faces questions at confirmation hearing over rising inflation and how to respond
Powell will almost surely get enough support to secure another four years running the central bank. Just about everything else swirling around the economy is much less certain.
By Rachel SiegelJanuary 11, 2022Treasury warns of ‘enormous challenges’ this tax filing season that could delay refunds
Officials predict refunds and other services will be delayed.
By Jeff SteinJanuary 10, 2022Fed vice chair to resign over stock trading controversy
Clarida is the third Fed official to resign over questionable behavior during the coronavirus pandemic.
By Rachel SiegelJanuary 10, 2022White House allies split over inflation plan as Biden focuses on corporate greed
The administration has blamed large companies for price increases but some question that approach.
By Jeff SteinJanuary 10, 2022Manchin’s $1.8 trillion spending offer appears no longer to be on the table
The West Virginia Democrat has been consulting with Sen. Mitt Romney and Larry Kudlow, Donald Trump’s former economic adviser, as he crafts his path forward.
By Jeff SteinJanuary 8, 2022White House preparing to ask Congress for more funding for therapeutics, vaccines, other coronavirus health needs
The administration says it has enough funding for its immediate needs but is preparing to ask for more in the near future.
By Jeff Stein and Tyler Pager and Dan DiamondJanuary 7, 2022Inflation could linger longer than previously expected, Federal Reserve officials discussed in December
Policymakers also flagged the omicron variant as another economic threat, according to minutes from the Fed’s December policy meeting.
By Rachel SiegelJanuary 5, 2022Lawmakers begin talks on another round of coronavirus relief for businesses
The discussions are early, no decisions have been made and Democratic leaders have not identified specific, concrete targets for additional funds.
By Tony RommJanuary 5, 2022In latest effort to combat rising prices, White House to offer $1 billion in aid for smaller meat-industry producers
Officials have tried to deflect criticism over inflation by alleging that large companies have too much clout.
By Jeff Stein and Laura ReileyJanuary 3, 2022Manchin told White House he would support version of tax on billionaires
The West Virginia Democrat’s comments came as Sinema raises new concerns, showing how Democrats have work to do.
By Jeff SteinDecember 24, 2021With tensions simmering, Democrats plot next steps to rethink their $2 trillion spending bill
Tough decisions and uncomfortable cuts await lawmakers as Biden and Manchin tone down attacks in pursuit of a deal.
By Tony Romm and Mike DeBonis and Marianna SotomayorDecember 23, 2021Biden administration extends federal student loan payment pause until May
A moratorium was scheduled to expire early in 2022.
By Nick Anderson and Jeff SteinDecember 22, 2021