The Justice Department and the Securities and Exchange Commission have launched investigations into the Silicon Valley Bank collapse.
Congress canceled a pandemic boost to Supplemental Nutrition Assistance Program benefits, setting up a major benefit reduction for March.
Sixteen million households will see an average reduction of about $82 per person in food benefits.
The economy got a boost last quarter from resilient consumer spending and the restocking of supplies by businesses.
“I haven’t heard any plausible case for that,” Sen. Elizabeth Warren (D-Mass.) said of a proposed scheme to stave off a calamitous debt default.
December's lower inflation reading makes it likelier that the Fed will slow its interest rate hikes in the coming months.
The latest extension, which now goes to President Joe Biden’s desk to be signed into law, funds federal agencies through Dec. 23.
The Treasury secretary said inflation is showing signs of easing and is on track to be lower by the end of 2023.
What seemed an underwhelming strategy over his first 22 months in office now looks more like a winning plan since Dems did better than expected in the midterms.
Their gambit is to pair child tax credit payments with an extension of expiring corporate tax breaks.