Economic Policy



The global auto industry will produce nearly 4 million fewer vehicles than planned this year because of the shortages, losing about $110 billion in sales.

Fed Chair says it’s too soon to tell how virus strain will weigh on recovery or labor market, but adds: ‘We’ve kind of learned to live with it’

What just weeks ago seemed like a smooth return to pre-pandemic life suddenly felt shaky on Tuesday following the Centers for Disease Control and Prevention’s call for vaccinated individuals to resume indoor mask-wearing in high-risk areas.

The proposal would require that goods purchased with taxpayer dollars contain 75 percent U.S.-made content by 2029, up from a current threshold of 55 percent.

Republican initially said they had hoped to finalize a more robust blueprint by today so that debate could quickly start in the chamber, but the prospect now seems unimaginable given the sheer scope of the fights that negotiators must resolve.

Some U.S. economists wonder if U.K. will be the ‘canary in the coal mine’ as Boris Johnson pursues aggressive reopening.

Regional rebellion shows how government response to Delta variant is dividing even liberal Southern California, a brawl that could play out all over the country.

The new ultimatum marked a reversal for Republicans, who agreed to raise the ceiling — the statutory amount the government can borrow to pay its bills — multiple times to advance policies under now-former President Donald Trump that added trillions of dollars to the federal deficit.

The growing caseloads threaten to crimp travel and tourism, shutter storefronts and restaurants and displace workers from their jobs — a prospect that has spooked Wall Street, sending the Dow Jones Industrial Average tumbling more than 700 points by the end of trading Monday.

The new rift emerged less than 24 hours before the chamber was set to take a critical step toward considering a still-forming, roughly $1 trillion agreement to improve the nation's roads, bridges, pipes, ports and Internet connections.

The White House had expected the economy to roar in 2021, but the growing number of cases has raised concerns about a setback.

The president Monday remarks revealed direct communication between the White House and Federal Reserve Chair Jerome Powell about inflation, suggesting that White House policymakers, in particular, are more concerned about the price increases than they’ve publicly acknowledged over the past several weeks.

Despite months of haggling, lawmakers are slated to return to the Capitol on Monday in the same political position in which they departed last week: They broadly support new spending to upgrade the nation’s roads, bridges, pipes, ports and internet connections, yet remain plagued by schisms over how to finance the still-forming package.

Conservatives want to block new funding for the tax agency as a vote on the bipartisan infrastructure package could come as soon as Wednesday.

Biden administration to launch biggest anti-poverty program since Lyndon Johnson’s ‘War on Poverty.'

Lawmakers were still sorting through details of the plan reached Tuesday night, hopeful that it would ease passage for key parts of the Biden agenda

The second meeting is set for July 21, 10 days before the final eviction moratorium from the Centers for Disease Control and Prevention expires

One regulator warned of potential shortages amid the ongoing disruption.

Agreement would mark effort to bridge differences between liberal, centrist wings of party.

Both sides stress shared views amid improved tone.

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