News

The Fed and the Treasury are butting heads over more emergency relief at a time when spiking virus cases make cooperation more important than ever

The nation’s top two economic-policy officials locked horns on Thursday, a rare public disagreement as the coronavirus pandemic worsens and the pace of economic recovery weakens. Treasury Secretary Steven Mnuchin called for the Federal Reserve to return funds allocated to a spate of emergency lending facilities, leaving five programs to […]
The Fed and the Treasury are butting heads over more emergency relief at a time when spiking virus cases make cooperation more important than ever
News

‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says

The US economy won’t return to the exact same state it was in before the pandemic, Federal Reserve Chair Jerome Powell said Thursday. The health crisis is accelerating digitization throughout the economy, and Americans already slammed by the virus’s fallout are at the highest risk of losing their jobs, he […]
‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says
Markets

Dow gains 163 points following Fed meeting, Big Tech testimony

US stocks rose Wednesday following a key Federal Reserve policy meeting and congressional testimony from big tech companies including Facebook and Amazon. The Federal Reserve held interest rates near zero, and again pledged to do whatever it takes to aid the US economy in recovery from the pandemic recession. Starbucks […]
Dow gains 163 points following Fed meeting, Big Tech testimony