Washington Wire

HUTCHINSON, Kan.— Employers added 339,000 jobs in May, according to the monthly employment report from the Bureau of Labor Statistics released on Friday. Creighton University economist Ernie Goss notes that the labor market remains tight. The Federal Reserve meets in less than two weeks to decide whether to raise interest rates again or to pause.

—America's surprisingly resilient job market may have delivered yet another month of solid hiring and pay gains in May, if economists' forecasts prove to be correct. Still, some signs of cooling could emerge in the government report being released Friday. Federal Reserve officials would welcome a more modest rate of job growth.

Tim Kaine of Virginia, who wants to amend the bill by stripping out approval of the Mountain Valley Pipeline, said they were surprised the project was included. Overall, the bill stops short of the expansive permitting overhaul many lawmakers have sought this Congress. It also drew opposition from some Republicans, including Reps.

Vacancies at U.S. employers unexpectedly surged in April to the highest in three months, giving the Federal Reserve more reason to consider hiking interest rates again soon. The number of available positions increased to 10.1 million from an upwardly revised 9.75 million in March, the Labor Department’ s Job Openings and Labor Turnover Survey, or JOLTS, showed…

Philip Jefferson, Federal Reserve governor and vice chair nominee, said on Wednesday the central bank could stop hiking interest rates at a future meeting, but that it does not close the door on future increases. Jefferson said the Federal Reserve could keep the current benchmark overnight interest rate unchanged at a future meeting, but did not rule out future…

WASHINGTON — Congress began moving the bipartisan debt limit package forward Tuesday, though frustrations with provisions in the bill could make for narrow…

BY CHRISTOPHER RUGABER The Associated Press WASHINGTON – A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign…

The Labor Department’s inspector general said Tuesday it will soon run out of its infusion of pandemic cash and will have…

WASHINGTON— House Republicans pushed debt ceiling talks to the brink on Thursday, displaying risky political bravado in preparing to leave town for the holiday weekend just days before the U.S. could face an unprecedented default. In remarks at the White House, Biden said, "It's about competing versions of America. The White House said discussions with the…

PHILADELPHIA— From his office overlooking the Schuylkill River, Paul Melchiorre is puzzling over which new billion-dollar tech giants could rise from this economic slowdown. A onetime SAP manager, who made the bulk of his fortune building software developers iPipeline and Anaplan, Melchiorre has spread his earnings among a string of tech funds, including…

The U.S. running short of both time and money to pay its bills. At some point in the next several weeks, the U.S. is likely to run out of money to pay its bills, risking the prospect of a devastating default. Did runaway spending by President Biden and Congressional Democrats leave the U.S. on the brink of default?

The title of Adam Serwer's book comes to mind: "The Cruelty Is the Point." WASHINGTON- The moment negotiations over the debt ceiling with House Speaker Kevin McCarthy started, it was obvious President Biden would have to give in to Republican demands for some spending cuts. House Republicans decided to hold the economy hostage to slash assistance for low-income…

All the new funding that congressional Democrats and President Joe Biden showered on the IRS has the tax agency thinking big. The Wall Street Journal reported this week that IRS officials hope to get into the tax preparation business, in direct competition with TurboTax and firms such as H&R Block. It's also worth noting that the IRS has a dismal record of…

Prior to the Federal Reserve Act, U.S. financial institutions were plagued by panics and bank runs. Passed by Congress and signed into law by President Woodrow Wilson, the Federal Reserve Act of 1913 created the Federal Reserve, which is the central banking system of the United States. The Federal Reserve, known colloquially as the Fed, exerts a powerful influence…

TAMPA, Fla.— Senior citizens living at Adult Family Care Homes say they're watching the battle in Washington over whether to raise the debt ceiling. Talks between President Biden and House Speaker Kevin McCarthy appear to be productive and optimistic but there's still no deal on the debt ceiling and that could create a dire situation for millions of seniors…

Six in 10 adults responding to the polling company’ s latest survey said the amount they are paying is“ too high,” the most people since 65% said the same in 2001 shortly before Republican President George W. Bush signed his first major tax cut law. “Since then, no presidents have significantly raised federal income tax rates for lower- and middle-income Americans, but…

—The Federal Reserve will make only modest progress in its fight against inflation for the rest of this year, even while keeping its benchmark interest rate at a 16- year high, a group of business economists predict in a survey released Monday. That is a quarter-point above the estimate from the NABE's February survey and is a sign that the economists don't expect…

Earlier this month, Federal Reserve policymakers again raised interest rates but indicated they are prepared to pause any further tightening. Mr. Powell puts a great deal of weight on consumer and business expectations, and those remain firmly anchored— but where? Businesses such as McDonald’ s, Pepsi and General Motors keep raising prices— or in the case of…