Federal Reserve Vice Chair Richard Clarida announced Monday that he will step down from the central bank on Friday, two weeks earlier than his term was scheduled to end, in the wake of renewed questions about his trading activity at…
Americans can start filing their income tax returns Jan. 24, but existing backlogs and longstanding operational problems at the IRS, aggravated by the coronavirus pandemic, are likely to make for a frustrating filing season for taxpayers and tax preparers, a…
Democrats hope they can salvage pieces of their ambitious tax agenda even after Sen. Joe Manchin blew up the legislation that included it. This might be the best sign for them: Manchin (D-W.Va.) doesn’t seem to be having any second…
President Joe Biden will nominate Sandra Thompson, currently the acting director of the Federal Housing Finance Agency, to a full term at the regulator, the White House announced Tuesday. If confirmed, Thompson would be the country’s top housing regulator, with…
The White House on Friday defended three Democratic board members at the Federal Deposit Insurance Corp. who moved to wrest control away from the banking agency’s Republican chairman — a maneuver GOP lawmakers blasted as a “coup.” The partisan battle…
In May of 2021, the Biden administration’s Covid-19 vaccination campaign was humming. The U.S. had already more than doubled the White House’s goal of distributing 100 million shots and had launched an ambitious target to deliver at least one shot…
U.S. consumer prices raced ahead in November at the fastest pace in 39 years, dealing a potential setback to President Joe Biden’s spending plans and giving Republicans more ammunition against Democrats heading into the election year. Costs for key goods…
Sen. Joe Manchin (D-W.Va.) sharply criticized a proposal to force banks to report more account information to the IRS, making it much more likely that Democrats will have to drop a plan that could raise hundreds of billions of dollars…
Ron Wyden played sparingly during his college basketball career. Now he’s throwing up a bank shot as time winds down. The Senate Finance chair is suddenly in the toughest position on Capitol Hill as he assembles a tax package for…
The Senate’s top tax writer unveiled plans to create a special new tax on the uber wealthy that he hopes Democrats will use to help pay for their next big spending package. Finance Chair Ron Wyden (D-Ore.) wants to begin…
President Joe Biden said Tuesday he intends to announce his nominees to the Federal Reserve board “fairly quickly” but declined to say whether he will replace Fed Chair Jerome Powell. Biden told reporters in Glasgow that he’d given a lot…
The longtime head of one of Washington’s biggest bank lobbying groups is stepping down. Richard Hunt, who has led the Consumer Bankers Association since June 2009, told the group’s board of directors Wednesday morning that he plans to leave the…