The agency, which has been hobbled by paperwork backlogs and short staffing, said tax filers should expect a lower level of service this year.
Tag Archives: Stimulus (Economic)
Here Are 10 of the Worst Predictions About 2021
Bitcoin, Tesla, the Suez Canal, the Mars helicopter — people got a lot wrong.
Democrats Blast Corporate Profits as Inflation Surges
Politicians are placing more blame on greedy companies as prices stay high. But booming consumer demand is enabling firms to charge more.
What We Learned About the Economy in 2021
For once, the government tried overheating the economy. For better and worse, it succeeded.
The New Pentagon Papers: Civilian Casualties
Readers call for Pentagon accountability for the killing of civilians. Also: Julian Assange; Republican hypocrisy; two-family homes.
Fed Could Raise Rates 3 Times in 2022, Speeds End of Bond-Buying
Federal Reserve officials suggested as many as three interest rate increases in 2022 as the economy heals and inflation persists.
Republicans Who Assailed Biden’s Stimulus Bill Are Embracing the Money
Republican governors who criticized the $1.9 trillion Covid relief bill as wasteful are championing state projects funded by the money.
How Tech is Helping Poor People Get Government Aid
Even as the government expanded aid programs, many people faced barriers to using them. That problem is now being addressed with apps and streamlined websites.
Why the November Jobs Report Is Better Than It Looks
The number of jobs added was below expectations, but otherwise the report shows an economy on the right track.
A Top Official Says the Fed Will ‘Grapple’ With a Faster Bond-Buying Taper
The president of the New York Federal Reserve said Omicron could prolong supply and demand mismatches, causing some inflation pressures to last.
Powell Says Fed Could Finish Bond-Buying Taper Early
The Federal Reserve could pull back economic support faster as inflation lasts, and its chair signaled that for now the Omicron variant is a “risk.”
How the $4 Trillion Flood of Covid Relief Is Funding the Future
From broadband to transportation to high-tech medical manufacturing, benefits from America’s pandemic money infusion will linger.
Joe Biden’s Infrastructure Bill Is a Big Success
Voters may pummel Democrats next year but future generations will be grateful.
Mortgage Bills Are Coming Again. $10 Billion in Aid May Arrive First.
The federal Homeowner Assistance Fund aims to help those still struggling as forbearance periods come to an end. But the assistance isn’t limited to mortgage payments.
How America’s Pandemic Economic Response Fought the Last War
A focus on the challenges of the Great Recession has fueled some of the challenges of this crisis.
Japan’s Economy Shrinks, but Outlook Is Warm as Virus Ebbs
The coronavirus and supply chain issues stymied growth in the third quarter, but high vaccination rates and low numbers of virus cases point to a recovery.
Stocks Soar in India, Luring Investors at Home and Abroad
The second-most populous country is enjoying some of the world’s strongest stock market returns. Pro-growth policies and gnawing questions about China have helped.
The Congressional Black Caucus Was Key to the Infrastructure Vote
Speaker Nancy Pelosi sent the chairwoman of the caucus, Representative Joyce Beatty of Ohio, to announce a key deal, understanding that the lawmaker had more influence at that point than she did.
What Jerome Powell Didn’t Do: Lay the Groundwork for Higher Rates
He said high inflation was mostly a result of pandemic effects like supply network disruptions, a problem he thinks the Fed can’t fix.
What to watch at the Fed’s meeting Wednesday.
The Federal Reserve is expected to announce plans at 2 p.m. Wednesday to slow its bond buying while leaving interest rates near zero. But the focus is on what comes next.
As the Fed Prepares to Slow Support, Attention Shifts to Rate Increases
The Federal Reserve is expected to announce a plan to taper off its bond buying. With inflation surging, economists’ eyes are already turning to rates.
Even With a Dream Job, You Can Be Antiwork
The pandemic has prompted a dawning realization that we are way too obsessed with our jobs.
Joe Manchin Doesn’t Like What Joe Biden Is Doing
Why is that?
Where Biden Is Most Vulnerable
He said he knew how to get things moving. But we’re stalled.
As Democrats Trim Spending Bill, Some Americans Fear Being Left Behind
President Biden had an ambitious agenda to remake the economy. But under the duress of negotiations and Senate rules, he has shelved a series of proposals, some of them indefinitely.
Racial Bias Skewed Small-Business Relief Lending, Study Says
Black business owners were more likely to get Paycheck Protection Program loans from online lenders than from banks, according to new research.
Man Who Faked Suicide to Avoid Covid-19 Fraud Charges Is Sentenced
Prosecutors said David A. Staveley, who cut off his electronic monitoring bracelet and left suicide notes with friends and relatives, was sentenced to 56 months in prison.
Weak Employment and Rising Prices Raise the Stakes for the Fed
The disappointing payrolls report for September came at a high-pressure moment for the central bank, as it balances inflation with missing jobs.
Economic and Earnings Concerns Begin to Weigh on Stocks
After having few cares about the markets all year, investors are getting nervous as the Fed signals that harsher policies are on the way.
S.B.A. Overpaid $4.5 Billion on ‘Illogical’ Small Business Grant Claims
A program gave money to 700,000 self-employed people who improperly claimed to have as many as a million employees, according to an inspector general’s report.
The Stock Market’s Hot Summer Became a Swoon. Where Does It Go Next?
Inflation and supply chain problems have been a concern since the pandemic began. But action by the Federal Reserve and pressure on corporate profits put those worries in sharp focus.
The Economy Looks Solid. But These Are the Big Risks Ahead.
One concern is that political leaders will mismanage things in the world’s largest and second-largest economies.
Wonking Out: This Might Be China’s ‘Babaru’ Moment
Evergrande may not be another Lehman, but so what?
Could This Covid Wave Reverse the Recovery? Here’s What to Watch.
Some businesses are still hurting, and federal aid has wound down. But economists see sources of resilience and signs of strength.
Cuts to Biden’s Spending Bill Shouldn’t Harm Disabled Americans
Proposed cuts to President Biden’s spending bill would hurt disabled and older Americans who have supported progressive agendas for decades.
Federal Reserve Signals It May Soon Slow Bond Purchases
The Federal Reserve said it could soon slow its large-scale purchases of government-backed debt and indicated it might raise interest rates in 2022.
Does the U.S. Economy Still Need Booster Shots?
This week, the Federal Reserve may hint at an answer.
Unemployment Benefits Expire for Millions Without Pushback From Biden
The president has encouraged some states to continue helping the long-term unemployed, but administration officials say it was time for enhanced federal aid to end.
August Jobs Report is Concerning News for Fed
The Federal Reserve and White House had hoped for strong job gains, and the August report did not deliver. That makes coming numbers critical.
The Economy Is Booming but Far From Normal, Posing a Challenge for Biden
High inflation, ghostly downtowns and a resurgent virus have rattled consumers and created new obstacles as the president tries to push his broader economic agenda.
Biden, Needing a Win, Enters a Sprint for his Economic Agenda
As his poll numbers slide, the president and his aides have mounted an aggressive pitch in Congress and around the country for his spending plans on infrastructure and more.
Biden Enters a Sprint for his Economic Agenda
As his poll numbers slide, the president and his aides have mounted an aggressive pitch in Congress and around the country for his spending plans on infrastructure and more
Banks Are Bingeing on Bonds, but Not Because They Want To
Banks are awash in deposits, and their customers are taking out fewer loans. So they have little choice but to buy up government debt, even if it means skimpy profits.
The Pandemic Is Testing the Federal Reserve’s New Policy Plan
Year 1 of the Fed’s framework, unveiled at its Jackson Hole conference in 2020, has included high inflation and job market healing. Now comes the hard part.
This Is a Terrible Time for Savers
In an upside-down world of financial markets, expected returns after inflation are at record lows.
One Number to Gauge Where the Economy Is Headed
The yield on the 10-year Treasury note is often a reliable indicator of how Wall Street views the prospects of economic growth — especially when other data points send confusing signals.
Biden Is Asking for $4 Trillion. Congress Shouldn’t Give It to Him.
The president’s economic plan would risk making inflation worse.
Senators and Biden Aides Struggle to Save Bipartisan Infrastructure Deal
A looming deadline and a last-minute need for a new revenue source are complicating a deal that was announced nearly a month ago.
States and Cities Scramble to Spend $350 Billion Stimulus
The Biden administration is betting on the funds to keep the recovery humming, but Republicans say the money is being wasted.
U.S. Deficit Expected to Hit $3 Trillion in 2021, Budget Office Says
Stimulus spending will help fuel economic growth and erase pandemic job losses, according to a new report from the Congressional Budget Office.