Democrats renew push to pause gas tax, punish energy giants to lower 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.
Biden to nominate Michael Barr as Fed’s top banking cop
The president’s initial pick, Sarah Bloom Raskin, withdrew her nomination amid a GOP boycott of her confirmation.
Biden takes additional steps to ease gas prices as inflation rises
The White House will issue an emergency waiver to allow use of blended biofuels over the summer hours after report is expected to show inflation keeps surging.
Higher interest rates could help, Powell says. Not everyone agrees.
The Federal Reserve has outlined a fix it says can help both problems plaguing the economy. Economists say it’s much more complicated.
ACLU helped defeat plan to seize Russian oligarchs’ funds for Ukraine
A bipartisan bill to send seized oligarch assets to Ukraine has stalled.
Some economists celebrate Biden’s economy, even if the public doesn’t
Some economists are frustrated, if not perplexed, by the apparent dissatisfaction with an economy producing record job growth.
President Biden appears to back broadening union push at Amazon
"By the way, Amazon here we come," the president said in a speech to the building trades.
Biden extends federal student loan payment pause through Aug. 31
President Biden extended the suspension of federal student loan payments through Aug. 31, saying “We are still recovering from the pandemic and the unprecedented economic disruption it caused."
Some Fed officials wanted larger March rate hike despite uncertainty
In the weeks since, policymakers have signaled more aggressive hikes could come in the next few months.
White House expected to extend student loan payment pause
The Biden administration is gearing up to once again extend the suspension of federal student loan payments, according to people familiar with the matter. The pause was set to end in May.
Fed official: Inflation falls hardest on poorer families
Federal Reserve governor Lael Brainard said policymakers don’t have enough data to fully capture the disparity as inflation soars to highest level in 40 years.
U.S. impedes Russia’s debt payments as new sanctions package emerges
A default would be the most severe economic consequences of the war to date on Moscow.
U.S. weighs tougher Russia sanctions after evidence of Bucha killings
No final decisions have been made, but U.S. officials are looking at stiffening the penalties against Moscow amid global outcry over civilian deaths.
Biden unveils plan to release 1 million barrels of oil per day
The announcement is expected on Thursday amid concern about rising prices at the pump.