Politics

The stock market had a really bad day after a major retailer missed their earnings target and raised concerns about the future of the economy. We’ll also look at President Biden facing more pressure to go bold on student loan forgiveness and a push to lift tariffs on China. But...

A new report from the government’s internal watchdog found that richer taxpayers are benefitting the most from a broader decline in audit rates by the IRS, adding impetus to criticism that the U.S. tax system favors the wealthy, and possibly bolstering a White House push to increase taxes on the...

Stocks plunged Wednesday as deepening concern about the economic impact of high inflation and rising interest rates drove the Dow Jones Industrial Average to its worst day since March 2020. The Dow closed with a loss of 1,161 points, dropping 3.6 percent Wednesday for its steepest one-day drop since the...

U.S. housing prices have trended upward for decades, but they have spiked even more in the wake of the COVID-19 pandemic, especially in particular places. Median housing prices across the U.S. in the first quarter of 2020 were at $329,000, and spiked to $428,700 by the first quarter of 2022,...

Federal Reserve Chair Jerome P...

Federal Reserve Chair Jerome P...

The Treasury Department unveil...

Most Americans are eager to travel this summer, but skyrocketing costs could upend their vacation plans. Airfares rose nearly 19 percent from March to April, according to recent Labor Department data, the largest month-over-month increase for plane tickets on record, and are up 33 percent from last year. Hotel and...

Retail sales rose 0.9 percent in April as a rebound in automobile sales and a pickup in dining powered another monthly increase in consumer spending, according to data released Tuesday by the Census Bureau. Sales by retailers, restaurants and bars totaled $677.7 billion in April, according to the Census Bureau,...

House Appropriations Committee Chairwoman Rosa DeLauro (D-Conn.) on Tuesday filed supplemental funding legislation to address the nationwide baby formula shortage. If passed, the legislation would greenlight $28 million in emergency funds to help the U.S. Food and Drug Administration (FDA) address the shortage and prevents future shortages, the congresswoman’s office...

As tremors in global supply chains continue to rattle everything from auto manufacturing to baby formula, the especially intricate domestic semiconductor industry is looking to Washington for help bringing more of its production to the U.S. and getting insulated from geopolitical hazards. But it won’t be easy. State-of-the-art chipmaking and...

President Biden may still use...

A plunge in cryptocurrency values and the collapse of popular tokens are stoking panic among some investors and boosting pressure on Washington to act. Rising interest rates and recession risks have caused sharp sell-offs across financial markets, including the stock market. Many crypto investors have seen their holdings evaporate —...

Goldman Sachs senior chairman and former CEO Lloyd Blankfein said on Sunday that the U.S. should prepare for a recession. When asked by CBS’s Margaret Brennan if he thought the country is heading for a recession, Blankfein responded that “it's certainly a very, very high risk factor.” “It's definitely a...

Rep. David Schweikert (R-Ariz....