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…
NEW YORK — The stock market is soaring. Company and household bottom lines look strong. Yet corporate executives across the U.S. are obsessing over inflation — and some think the White House isn’t grasping the extent of the problem. Spiking…
By rebranding itself as Meta, Facebook named itself an evil empire. It did so on purpose, and quickly enough to express its long-time motto, “Move fast and break things,” which, investors take note, is the antithesis of a long-term strategy.…
Democrats are proposing the first-ever tax on corporate stock buybacks. Wall Street is yawning. Market veterans say the 1 percent levy lawmakers aim to include in their reconciliation package isn’t big enough to make a difference to most companies. “It’s…
Democrats are struggling with a huge problem that could sink them at the ballot box: They may end up looking more sympathetic to rich people than Republicans. After spending several election cycles campaigning against the GOP’s tax cuts as a…
Hedge fund billionaire and GOP megadonor Ken Griffin secured a copy of the U.S. Constitution this week with a $43.2 million auction bid that beat out thousands of crypto users who banded together to acquire the extremely rare first-run printing.…