Despite pockets of labor shortages, supercharged hiring and spending are in evidence. That's good, since consumer spending is 70% of the US economy.
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The virus and its variants are the "main risk" to the recovery, and people should socially distance "at least for a while longer," the Fed chief said.
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White House and Treasury officials have been gaming out inflation risk scenarios and finding only a "transitory" increase, the NYT reports.
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The O'Leary Funds boss, known as "Mr. Wonderful," also discussed bitcoin, NFTs, airlines, Robinhood, and prospective tax hikes.
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On rent relief, President Biden is racing against the US legal system. He needs to get aid out before courts rule pandemic-era eviction bans illegal.
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JPMorgan CEO Jamie Dimon, long rumored as a potential Treasury Secretary, has some ideas on tax reform. They're not all that different from Biden's.
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While he was in office, Trump pressured Fed Chair Powell against raising interest rates - the central bank traditionally operates independently.
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The alliance aims to educate policymakers and regulators on the benefits of cryptocurrencies and to debunk "wrong impressions" the public may have.
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The global cryptocurrency market value reached a record high of $2 trillion this Monday. Among them, Bitcoin’s market value share accounted for more than half, ... The post Bitcoin’s Market Value Expected To Increase Tenfold And Surpass Gold appeared first on Gizchina.com.
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German finance minister Olaf Scholz said Yellen's proposed corporate tax deal could "put an end to the worldwide race to the bottom in taxation."
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Sen. Joe Manchin, who's emerged as a key vote in the Democrats' 50-seat majority, said: "If I don't vote to get on it, it's not going anywhere."
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While the unemployment rate fell to 6% amid a surge in hiring, Insider calculates the "real" rate used by the Fed and the Treasury still sits at 8.7%.
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If yields rise too much too quickly, the interest the US pays on its debt could force Congress to "question sustainability," UBS economists said.
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Pete Davidson and Kate McKinnon broke down nonfungible tokens to a parody of an Eminem song - and the internet loved it.
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Europe is in focus as EU leaders hold a virtual summit to discuss boosting vaccine supplies and their rollout across the bloc.
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The top economic officials' prepared remarks mirrored those delivered on Tuesday before the Congress, with Yellen signalling U.S. banks look healthy enough to be allowed to pay dividends and repurchase stock
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US stocks were mixed Wednesday as investor optimism around the economic recovery sparked tech stock selling and put downward pressure on the Nasdaq.
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"I don't think our guys are going take the bait on that," one top Senate Republican said as Democrats assemble a massive jobs package.
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Industries hit hardest by Covid "remain weak," and the current 6.2% unemployment rate "underestimates the shortfall" in hiring, Powell told Congress.
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