A crucial question hangs over the American economy and this fall’s presidential election: Why are consumer prices still rising uncomfortably quickly, even after a sustained campaign by the Federal Reserve to slow the economy by raising interest rates? Economists and policy experts have offered several explanations. Some are essentially idiosyncrasies of the current economic situation,…
House Freedom Caucus member U.S. Rep. Chip Roy (R-TX) speaks during a press conference about federal government spending on Capitol Hill in Washington, September 12, 2023. Elizabeth Frantz | Reuters After six months of budget impasses, emergency funding measures and near government shutdowns, Congress this weekend finalized the remaining parts of a permanent spending package…
U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on the 2025 budget on Capitol Hill in Washington, U.S., March 21, 2024. Elizabeth Frantz | Reuters WASHINGTON – Treasury Secretary Janet Yellen on Thursday defended President Joe Biden’s 2025 budget proposal as Republican senators said they feared taxes on the middle class…
President Biden staked out key economic fault lines in his budget this week with former President Donald J. Trump, the presumptive Republican presidential nominee. The proposal offers the nation a glimpse into the different directions pension programs, taxes, trade and energy policy could take depending on the outcome of the November election. Over the past…
President Biden proposed a $7.3 trillion budget on Monday that includes tax hikes on corporations and high earners, new spending on social programs and a wide range of measures to combat high consumer costs such as housing and college tuition. The proposal contains only relatively small changes from the budget plan that Mr. Biden put…
During his Senate confirmation last February, Daniel Werfel told lawmakers that if he were given the job of commissioner of the Internal Revenue Service, he would work to “increase public confidence” in the beleaguered agency and the $80 billion dollars that Congress had granted it to use to build a “more modern and high-performing” organization….
NATO Secretary General Jens Stoltenberg speaks during a press conference on the third day of the annual meetings of the International Monetary Fund and the World Bank on October 11, 2023 in Marrakech, Morocco. Susana Vera | Reuters NATO Secretary General Jens Stoltenberg acknowledged criticism that some members had underfunded the coalition’s defense budget and…
