Washington Financial News

10.03 / 04:01

UPS Fed’s Jerome Powell Says Data Will Determine Size of Next Rate Increase

WASHINGTON—Federal Reserve Chair Jerome Powell said Wednesday officials were keeping their options open over how much to raise interest rates this month after investors interpreted his comments Tuesday to suggest a half-percentage-point increase was likely.

10.03 / 04:01

vice chair Janice Eberly Seen as Leading Candidate for Fed Vice Chair

WASHINGTON—Janice Eberly, a finance professor at Northwestern University, is the leading candidate for the No. 2 job at the Federal Reserve, according to people familiar with the matter.

09.03 / 22:43

stablecoin regulation Fed’s Michael Barr Calls for Stablecoin Regulation in Crypto Oversight

The Federal Reserve’s top banking regulator spotlighted stablecoins as a priority in Washington’s efforts to rein in crypto.

09.03 / 20:35

Trump tax cuts Biden Seeks Extension of Trump Tax Cuts for Most Households

WASHINGTON—President Biden largely wants to extend Trump-era tax cuts for households making under $400,000 a year beyond their scheduled expiration after 2025, the White House said in a budget statement Thursday.

09.03 / 16:15

businesses Biden’s Budget Would Cut Deficits by $3 Trillion Over 10 Years, Raise Taxes on Businesses

WASHINGTON—President Biden will outline a plan to reduce federal budget deficits by nearly $3 trillion over the next decade and raise taxes on wealthy people and large corporations, kicking off monthslong spending negotiations with Republicans in Congress.

09.03 / 16:15

global economy U.S. Imports, Exports Grew in January, Adding to Signs of Solid Global Economy

WASHINGTON—U.S. trade with the rest of the world grew in January, adding to signs the global economy started the year on a surprisingly strong note.

09.03 / 06:25

UPS Strategy Jerome Powell Says Fed Is Prepared to Speed Up Interest-Rate Rises

WASHINGTON—Chair Jerome Powell said the Federal Reserve would consider raising interest rates by a larger half percentage point this month and was likely to lift rates higher than previously expected this year to cool an economy that has shown surprising strength.

09.03 / 06:25

vice chair Janice Eberly Seen as Leading Candidate for Fed Vice Chair

WASHINGTON—Janice Eberly, a finance professor at Northwestern University, is the leading candidate for the No. 2 job at the Federal Reserve, according to people familiar with the matter.

08.03 / 23:09

Remark 2024 Biden’s Budget Proposal for 2024: What to Know

WASHINGTON—President Biden plans Thursday to outline his annual budget blueprint, laying out recommended funding levels for programs across the federal government and signaling his priorities for fiscal 2024.

08.03 / 18:21

global economy U.S. Imports, Exports Grew in January, Adding to Signs of Solid Global Economy

WASHINGTON—U.S. trade with the rest of the world grew in January, adding to signs the global economy started the year on a surprisingly strong note.

08.03 / 18:21

Remark 2024 Joe Biden’s Budget Proposal for 2024: What to Know

08.03 / 16:13

COST Senate Plan Aims to Revitalize Beaten-Down Communities

WASHINGTON—A bipartisan group of U.S. lawmakers is reviving efforts to spur the renovation of single-family homes in blighted neighborhoods, the latest effort to dent a long-term national housing shortage.

08.03 / 15:39

UPS Strategy Jerome Powell Says Fed Is Prepared to Speed Up Interest-Rate Rises

08.03 / 15:39

Fighting Fight Over How to Settle Surprise Medical Bills Leaves Cases in Limbo

WASHINGTON—Just over a year after going into effect, legislation to protect consumers from unexpected medical bills has hospitals, doctors and insurers fighting over a process that was supposed to help resolve billing disputes.

08.03 / 15:39

Gigi Sohn Withdraws as Nominee for Federal Communications Commission

Gigi Sohn has withdrawn her nomination to serve as a commissioner on the Federal Communications Commission after a stalled confirmation process.

08.03 / 13:45

Returns Fed Chair Jerome Powell Returns to Congress for Second Day of Hearings

WASHINGTON—Federal Reserve Chair Jerome Powell returns to Capitol Hill on Wednesday for a second day of testimony after he told lawmakers Tuesday that the central bank would consider raising interest rates by a larger half-percentage-point later this month.

07.03 / 17:31

COST Senate Plan Aims to Revitalize Beaten-Down Communities

07.03 / 17:31

Provident Biden’s Plan to Avert Medicare Funding Crisis Includes Tax Hikes on High Earners

WASHINGTON—President Biden’s coming budget blueprint will propose extending the solvency of a key Medicare trust fund by at least 25 years, according to the White House, in part by increasing tax rates on people earning more than $400,000 a year.

07.03 / 16:25

Provident Biden’s Budget to Lay Out Plan to Extend Key Medicare Trust Fund by 25 Years

07.03 / 15:43

Blockchain CEO Remark Discover Shell FTX episode illustrates need for ‘Home’ regulator: Top U.S Banking official

According to one of the United States’ most prominent banking officials, cryptocurrency companies that operate many organizations in various nations should be under the control of a single, consolidated “home” regulator. This, to prevent them from engaging in “games” meant to circumvent laws.

07.03 / 09:53

Target Past U.S. Industrial Policy Offers Lessons, Risks for Chips Program

Tuesday’s rollout of the federal $53 billion semiconductor subsidy program dubbed Chips marks a historic embrace by the U.S. of “industrial policy”—the explicit use of government resources to foster favored sectors.

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