Jeff Stein

The Federal Reserve and Treasury Department had a rare public falling out over whether the central bank should retain emergency lending powers.

Though Mnuchin also asked the Fed to return hundreds of billions of dollars in unspent Cares Act money, Treasury alone does not hold that power.

The staff members are trying to broker a deal before the Dec. 11 deadline, but White House Chief of Staff Mark Meadows said he couldn't guarantee a deal would be reached in time.

Congress is now hurtling toward a December deadline to fund the federal government.

The incoming Democratic president called President Trump’s refusal to accept results of the election ‘embarrassing for the country.’

Budget proposals are offered in February, and President Trump is set to leave office on Jan. 20. “They’re pretending nothing happened,” one government official involved in the budget process said.

President-elect and Senate Majority Leader have a track record of cutting deals, but the environment has changed markedly in the past few years

Political paralysis looms over a turbulent period for the United States amid a spike in coronavirus cases and the expiration of emergency federal aid.

Markets again opened down significantly on Wednesday.