President Biden’ s choice to lead the Labor Department faces an uncertain fate within the Democratic-controlled Senate because of her tenure overseeing a California unemployment agency that paid out billions in fraudulent benefits at the height of the coronavirus pandemic. The uncertainty comes as business groups and Republicans have mobilized in…
The latest from Washington, D.C., impacting the insurance and financial services industries.
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If the Republican-controlled Congress and Mr. Biden cannot reach an agreement on the debt limit in the next several weeks, the government could default on its bills, resulting in economic chaos in the U.S. and across the globe. Mr. Biden has called on Congress to raise the nation’ s debt limit, while Mr. McCarthy, California Republican, is demanding massive spending…
The Bipartisan Working Group on Paid Family Leave invited members from numerous insurance companies to discuss the role of private industries as it relates to paid family leave policies.
WASHINGTON— Minority Leader Mitch McConnell returned to the Senate on Monday weeks after suffering a concussion and fractured rib in a fall, jumping back into the fray by accusing President Joe Biden of taking an "extreme position" over a coming debt ceiling deadline. But the jokes stopped there, with McConnell going right after the president hours after…
The Biden administration said the justices should block the order from Texas District Judge Matthew J. Kacsmaryk because it undermines science and is creating chaos, noting a separate district court in Washington that approved the FDA’ s regulation of mifepristone. Danco says it cannot lawfully distribute its drug after the 5th U.S. Circuit Court of Appeals…
U.S. applications for jobless benefits rose to their highest level in more than a year, but remain at relatively low levels despite efforts by the Federal Reserve to cool the economy and job market in its battle against inflation. Jobless claims in the U.S. for the week ending April 8 rose by 11,000 to 239,000 from the previous week, the Labor Department said…
After Wednesday's news that inflation eased in March, many economists and investors say the Federal Reserve will raise interest rates one more time next month and then stop. "With major equity indexes holding up, consumer confidence higher in March, solid payroll growth, and a low unemployment rate, the Fed will probably raise the federal funds target another…
Federal Reserve Chairman Jerome Powell faces a tough road fending off politicians who like easy money, maintaining stability in the banking system and lowering inflation to 2%. Congress remains gridlocked on immigration reforms that could prioritize needed skills and an ample supply of less-skilled workers for agriculture and public-facing services.
National health emergency declared over, ending use of some federal waivers
But the public health emergency remains in effect until May 11.
WASHINGTON- President Joe Biden keeps seeing good economic news and bad public approval ratings. White House aides can list plenty of reasons for the pessimism: high inflation, the lingering COVID-19 pandemic and the polarization that leaves Republicans automatically believing the economy is sour under a Democratic president. The Federal Reserve expects…
High inflation persists even as the Federal Reserve raises interest rates. Geopolitical uncertainty is also a factor, with not only Russia- Ukraine, but several other areas showing signs of rising tensions. Added to that pressure were the disruptions in energy and agricultural markets stemming from the invasion of Ukraine, a fire in a major South Korean…
The U.S. economy added 236,000 jobs in March and the unemployment rate declined to 3.5 percent, as labor markets stayed tight despite interest rate hikes by the Federal Reserve. The U.S. labor market has remained strong in the face of nine consecutive rate hikes by the Fed, but the central bank is still projecting the unemployment rate to hit 4.5 percent this year,…
President Biden credited his administration’ s economic agenda for Friday’ s strong jobs report, declaring the U.S. faces economic headwinds from a position of strength. U.S. employers added 236,000 jobs last month despite a series of interest rate hikes by the Federal Reserve in a bid to rein in inflation. “Biden’ s out-of-touch agenda is crushing hardworking…
—Most U.S. adults are opposed to proposals that would cut into Medicare or Social Security benefits, and a majority support raising taxes on the nation’ s highest earners to keep Medicare running as is. Few Americans would be OK with some ways politicians have suggested to shore up the programs: 79% say they oppose reducing the size of Social Security benefits and…
—For more than a year, the Federal Reserve's inflation fighters have been tightening their grip on the American economy with nine straight interest rate hikes. A key goal has been to slow the sizzling pace of hiring to help cool price pressures. So far, the job market has refused to crack.
The U.S. Department of Health and Human Services finalized a rule to strengthen Medicare, increase access to affordable prescription drugs and crack down on deceptive marketing.
President Joe Biden speaking Feb. 9 in Tampa about his plans to protect Social Security and Medicare and lower healthcare costs. WASHINGTON Medicare, the federal government-sponsored health insurance that covers 65 million older and disabled people, will be unable to pay full benefits for inpatient hospital visits and nursing home stays by 2031, the annual…
High inflation persists even as the Federal Reserve raises interest rates. Geopolitical uncertainty is also a factor, with not only Russia- Ukraine, but several other areas showing signs of rising tensions. Added to that pressure were the disruptions in energy and agricultural markets stemming from the invasion of Ukraine, a fire in a major South Korean…
FRIDLEY, Minn.— In remarks at a Twin Cities metro factory Monday, April 3, President Joe Biden said he's determined to reestablish the U.S. as a leading manufacturer and touted his economic agenda's positive effects on job growth and the domestic clean energy industry. Since taking office, Biden has signed multiple bills investing trillions into the American…
According to AAA, the current national average price for a gallon of regular gasoline is $3.51, up from $3.44 a week ago and $3.39 one month ago. "Then Joe Biden came along and made OPEC great again. Just last week, the House of Representatives passed a bill to put America back on the road to energy independence and it's clear OPEC was paying attention.
