ECONOMIC POLICY

Senators push for U.S. to offer cash rewards in hunt for Russian oligarchs’ assets

Proceeds from some of the seized assets would go to help rebuild Ukraine. The White House has resisted congressional efforts to dictate sanctions policy, however.

By Jeff SteinMarch 15, 2022

With war in Ukraine, Fed’s game plan for rate hikes faces new challenges

The war in Ukraine has already rippled through the U.S. economy and complicated the Fed’s moves to cool down inflation.

By Rachel SiegelMarch 14, 2022

Sarah Bloom Raskin’s Fed nomination appears doomed after Manchin opposes her record

A Republican boycott over Raskin’s nomination has also held up any votes on Biden’s other picks for the Fed.

By Rachel SiegelMarch 14, 2022

Zelensky presses Biden to increase economic pressure on Moscow, expand sanctions

The Ukrainian leader on Friday pushed Biden to further punish Putin for Russia’s invasion.

By Jeff SteinMarch 13, 2022

U.S. plan for $14 billion in Ukraine aid comes as Russian invasion leads to humanitarian crisis

“Basically all of our economic activity has stopped,” said a member of the Ukraine parliament. “The only way our economy survives currently is the help from the West.”

By Jeff SteinMarch 11, 2022

Biden will seek to end normal trade relations between U.S. and Russia

The U.S. is set to announce the move in tandem with the G-7 and the European Union, according to a person familiar with the matter.

By Tony RommMarch 10, 2022

Senate passes bill to avert shutdown, extend $14 billion in Ukraine aid

The Senate vote now sends the measure to President Biden for his signature, capping off a fierce, urgent push in the nation’s capital to respond to the geopolitical unrest roiling Europe as a result of Russia’s invasion.

By Tony RommMarch 10, 2022

Justice Department reports more than $8 billion in alleged fraud tied to federal coronavirus aid programs

The staggering figures prompted the DOJ to redouble its enforcement efforts to carry out President Biden’s mission to pursue “the criminals who stole billions in relief money.”

By Tony RommMarch 10, 2022

House passes package to avert shutdown, approves $14 billion in aid for Ukraine

They must pass a new spending bill by Friday to avoid a government shutdown, and the package is supposed to include $14 billion in Ukraine assistance.

By Tony Romm and Marianna SotomayorMarch 9, 2022

White House eyes new sanctions on lawmakers in Russian parliament as part of financial attack on Moscow

Penalties on members of ‘Russia’s Senate’ not expected imminently but reflect attempt to expand sanctions regime

By Jeff Stein and Tyler PagerMarch 9, 2022

Ukraine aid package grows to $14 billion as Congress rushes legislation tied to Russia’s invasion

Lawmakers are also working on a massive spending bill to fund U.S. government operations.

By Tony RommMarch 8, 2022

Top Democrats, Republicans say they have deal to ban Russian energy imports as U.S. stock markets sell off sharply

The agreement, reached between leaders on House and Senate finance committees, would still need to be approved by the full House and Senate.

By Tony RommMarch 7, 2022

Ukraine’s leadership is expected to ask Congress to ban corporations paying taxes in Russia from the U.S. stock market

“The taxes that these companies pay in Russia finance bombs that kill our military and innocent civilians,” says the letter from an ally of Ukrainian President Volodymyr Zelensky.

By Jeff SteinMarch 7, 2022

Senate Republicans threaten to slow efforts to fund federal agencies, deliver aid to Ukraine

The new demands, delivered in two letters to Senate Majority Leader Charles E. Schumer (D-N.Y.), could slow down lawmakers’ work at a time when Russia’s incursion into Ukraine is intensifying — all the while the U.S. government faces a looming March 11 deadline to pass a new spending measure or suffer a shutdown.

By Tony RommMarch 5, 2022

Washington’s crackdown on Russia intensifies as White House targets oligarchs and Pelosi backs oil ban

New sanctions corresponded with a vast, ever-expanding campaign in Washington to consider a slew of new penalties that might take aim at the heart of the Russian economy.

By Tony Romm,  Rachel Siegel and Maxine JoselowMarch 3, 2022

Biden administration requests $32.5 billion in Ukraine aid and coronavirus funds as spending talks continue

Lawmakers must reach a spending agreement by March 11, and Congress is at odds over what to include in a big funding package.

By Tony RommMarch 3, 2022

Republicans signal they may oppose new covid aid unless White House accounts for existing spending

The new warning arrived in a letter led by Sen. Mitt Romney as the Biden administration asks Congress for more aid.

By Tony RommMarch 2, 2022

U.S. prepares to expand financial attack on Russian oligarchs, aiming to freeze billions held by Putin allies

The U.S. is expected to in the coming days announce new sanctions against Vladimir Putin's financial allies.

By Jeff Stein,  Yeganeh Torbati and Ellen NakashimaMarch 2, 2022

Fed chief to Congress: Russia invasion in Ukraine has ‘highly uncertain’ implications for U.S. economy

Federal Reserve Chair Jerome H. Powell told lawmakers Wednesday that “we will proceed carefully as we learn more about the implications of the Ukraine war for the economy.”

By Rachel SiegelMarch 2, 2022

Exxon is latest oil major to announce departure from Russia over Ukraine invasion

Exxon becomes the latest major oil company to announce it's leaving Russia.

By Jeanne WhalenMarch 1, 2022