The landmark JobKeeper program channeled $27 billion to firms which escaped the worst financial impacts of the COVID-19 pandemic, with nearly $14 billion going to business which actually saw their turnover increase, the Treasury Department has revealed.
US economic strength rests on trust in the dollar. A debt-ceiling breach would destroy that, Yellen said, with big implications for every country.
Treasury Secs. Steve Mnuchin and Henry Paulson warned McConnell of the consequences of not raising the debt ceiling as the US approaches default.
"Paying America's bills shouldn't be a controversial issue," Yellen wrote in a WSJ opinion piece, but the GOP says it won't help Democrats do it.
Yellen credits the quality childcare her kids received in allowing her to advance in her career and urges Democrats to invest in affordable childcare.
In the month after Biden first extended the eviction ban at the end of June, states only dispersed 5% more of the money. They have two months left.
In a letter, Biden's Treasury and Labor Secretaries said Labor Day will be the end of expanded unemployment, which 26 states moved to end early.
Digital payments company Circle plans to become a full-reserve national commercial bank, according to an announcement by CEO Jeremy Allaire on Monday.
The $100 vaccine incentives could be paid for with COVID relief funds, a Treasury Department announcement said.
McConnell threatened this week to not support raising the debt ceiling. Democratic Sen. Brian Schatz told Insider, "We will not negotiate over it."
Families will receive up to $300 per child in monthly payments from July to December through direct deposit, a paper check, or a debit card.
Treasury calls for "all hands on deck" to help get money to renters who could be evicted this month. Just 350,000 households got help by May.
Loan payments are currently on pause, with 0% interest, but any loan taken out after July will have a higher interest rate. Mark Kantrowitz explains.
In Senate Finance testimony, Treasury Sec. Janet Yellen said four major things predate the pandemic but have grown worse, and they're not healthy.
The Biden stimulus benefit has deep Democratic support, but Senate moderates could slash the expanded child tax credit. Manchin hasn't weighed in.
Nearly 60,000 JobKeeper recipients lost their job shortly after the $90 billion scheme ended in March, the Treasury states. Speaking on Tuesday, Treasury Secretary Dr Steven Kennedy said new single-touch payroll data clarified how many subsidised workers fell into unemployment. His overall optimism was shrouded by Australia’s latest lockdown, with […]
"Cash has been trash for years, but soon it may be the only haven for investors sated beyond reasonable expectations of perpetually low yields."