Economy

U.S. Could Be Unable To Pay Debt As Early As June 1, Treasury Secretary Janet Yellen Warns

The new timetable upping pressure on Congress, President Biden invites Capitol Hill leader to White House to talk debt limit.
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Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says

An investigation by the Federal Reserve hammers the "shift in the stance of supervisory policy" that lawmakers initiated in 2018.
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This Week Brought Baby Steps On Child Care. Here's What You Should Know.

This week's executive order on caregiving could make a real difference in the real lives of some real Americans.
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The House GOP's Newest Hurdle For Its Debt Ceiling Bill: Math

Every year is a fight to divide up dollars between defense and domestic spending. Newly proposed caps would make that battle worse.
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U.S. Adds A Healthy 236,000 Jobs Despite Fed's Rate Hikes

The economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation.
By Paul Wiseman, AP

7 Ways The New Interest Rate Hike Can Affect You

The Fed just raised interest rates again. Here's what it means for us regular folks.
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Treasury Secretary Yellen Tells Congress U.S. Banking System 'Remains Sound'

The Justice Department and the Securities and Exchange Commission have launched investigations into the Silicon Valley Bank collapse.
By Fatima Hussein, AP

Coming Food Benefit Cut Could Affect Older Americans Most

Congress canceled a pandemic boost to Supplemental Nutrition Assistance Program benefits, setting up a major benefit reduction for March.
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SNAP Benefits Set For Cut As Pandemic Boost Expires

Sixteen million households will see an average reduction of about $82 per person in food benefits.
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U.S. Economy Slowed But Still Grew At 2.9% Rate Last Quarter

The economy got a boost last quarter from resilient consumer spending and the restocking of supplies by businesses.
By Paul Wiseman, AP