There’s a risk that the affluent, who saved money by limiting things like traveling and dining out, will sit on their cash rather than spend it.
Natasha Sarin, a protégé of Larry Summers, is taking a leading role developing tax policy at the Treasury Department — to some progressive Democrats’ chagrin.
The warning signs of an overheating economy are everywhere. Yet the Fed seems unable — or unwilling — to confront reality.
The I.R.S. almost never audits private equity firms, even as whistle-blowers have filed claims alleging illegal tax avoidance.
The move was unrelated to negotiations over the 2015 nuclear deal, a State Department spokesman said. The United States also imposed new sanctions on other Iranians.
America loses hundreds of billions of dollars to tax evasion every year. We need to give the I.R.S. the tools to combat it.
A warming planet holds potential risks for home prices, investments, banking and other aspects of the global economy, the government said.
The Biden administration wants other countries to back a minimum tax as part of its plan to raise the U.S. corporate tax rate to 28 percent from 21 percent.
The effectiveness of U.S. sanctions is being called into question as Iran and its oil buyers test whether penalties are worth the risk amid diplomatic negotiations.
A sprawling system meant to police trillions of dollars is showing signs of strain as watchdogs warn of waste, fraud and abuse.
The president said he saw no measurable evidence that a $300 federal boost in unemployment benefits was hurting the labor market, amid criticism from conservatives and business groups
Ms. Yellen, the Treasury secretary, said that some “modest” increases might be necessary. She later clarified to say that she was not making a recommendation or providing advice to the Federal Reserve, which sets monetary policy.
The federal agency tasked with enforcing gun laws has been hamstrung for years by the firearms lobby. Now, the president’s plan to rein in gun violence hinges on the A.T.F.’s success.
An internal dispute at the Treasury Department shows the challenge of tracking trillions of dollars of economic relief money.
The oil company is arguing against efforts to restrict its involvement in a gas operation in Myanmar that provides funding for the junta there.
US officials on Thursday formally blamed Russia for backing one of the worst espionage hacks in recent US history and imposed sanctions designed to mete out punishments for that and other recent actions.
In a joint advisory, the National Security Agency, FBI, and Cybersecurity and Information Security Agency said that Russia’s Foreign Intelligence Service, abbreviated as the SVR, carried out the supply-chain attack on customers of the network management software from Austin, Texas-based SolarWinds.
The operation infected SolarWinds’ software build and distribution system and used it to push backdoored updates to about 18,000 customers. The hackers then sent follow-up payloads to about 10 US federal agencies and about 100 private organizations. Besides the SolarWinds supply-chain attack, the hackers also used password guessing and other techniques to breach networks.
A monthslong effort to monitor and model economic trends inside the White House and the Treasury Department found little risk of prices spiraling upward faster than the Fed can manage.
David Malpass, who was met with skepticism when he got the job in 2019, has become increasingly vocal about the risk of climate change.
The plan detailed by the Treasury Department would make it harder for companies to avoid paying taxes on both U.S. income and profits stashed abroad.
Jamie Dimon tells the bank’s investors to prepare for an economic upswell.
How one U.S. multinational used overseas shelters to slash its tax bill — and how the Biden administration plans to crack down on such practices.
The sanctions come days after the Biden administration’s heated encounter with Chinese officials in Alaska, and will most likely widen tensions between Washington and Beijing.
The litigation came amid growing pushback from Republican lawmakers and state officials to a provision in the relief package that the Treasury Department said was constitutional.
The review follows an executive order signed by President Biden requiring federal agencies to pursue racial equity and to support underserved communities in their policies and programming.
The president kicked off a week of events to promote his $1.9 trillion American Rescue Plan by appointing Gene Sperling, a longtime Democratic aide, to oversee spending under the bill.
Treasury Secretary Janet Yellen is making Community Development Financial Institutions central to achieving an inclusive economy.
The markets are stressed at the prospect of an economic rebound, which is forcing investors to reassess their holdings.
The Treasury Secretary dropped hints about her priorities — if you know how to interpret them.
A recent rise in interest rates hints that a recovery is on the way, but it could also mean harder choices ahead on spending.
The Treasury Department slapped sanctions on the Israeli billionaire Dan Gertler in 2017 for corruption in Africa. In Donald Trump’s final days in office, they were rolled back with no explanation.
The most effective part of F.D.R.’s program wasn’t its direct spending. It was his use of U.S. financial might to reignite business.
The rules are in flux as a new U.S. administration takes over.
President Biden has chosen policymakers, while President Donald J. Trump valued cabinet secretaries he saw as deal makers.
Janet L. Yellen, who received bipartisan support, now faces a big challenge in confronting an economic threat that has caused financial hardship for millions of Americans.
Janet L. Yellen won Senate confirmation along bipartisan lines and now faces a big challenge in confronting an economic threat that has caused financial hardship for millions of Americans.
The reversal by the Treasury Department during the administration’s final days came after an appeal by lobbyists with close ties to the former president.
Janet L. Yellen, the Treasury secretary nominee, said at her confirmation hearing that the U.S. economy needed more help to get through the pandemic.
The Blackstone chief executive stuck with President Trump despite the occasional slight, and stopped short of criticizing Mr. Trump even after the Capitol attack.
Policymakers are eager to return to the period of low unemployment that preceded the pandemic and are less concerned than in previous eras about sparking inflation and taking on debt.
From tariffs and trade to the status of Uber drivers, regulators are trying to install new rules or reduce regulations before President-elect Joe Biden takes over.
Janet Yellen, the president-elect’s pick for Treasury secretary, collected more than $7 million in speaking fees over the past two years. Antony J. Blinken and Avril Haines did well, too.
Jerome H. Powell’s central bank slashed rates, bought bonds in huge sums and rolled out never-before-tried loan programs that shifted its identity. The backlash is already beginning.
The voluminous coronavirus relief and spending bill that blasted through Congress on Monday includes provisions — good, bad and just plain strange — that few lawmakers got to read.
Russian hackers appear to have attacked systems for senior officials of the department.
The disclosure was the first acknowledgment of a specific intrusion in the vast cyberattack. At the White House, national security leaders met to assess how to deal with the situation.
The Fed’s emergency lending authorities are a key part of its job. Republicans want to curb them. Democrats are pushing back.
The central bank’s meeting will wrap up Wednesday, as the Fed stares down a bifurcated economic outlook.
In one of the most sophisticated and perhaps largest hacks in more than five years, email systems were breached at the Treasury and Commerce Departments. Other breaches are under investigation.
Adewale Adeyemo’s role in the Trans-Pacific Partnership negotiations and work at BlackRock could complicate his confirmation hearings.