Economy

The vote was 219-209 to adopt the budget framework that the Senate approved early Friday morning thanks to a tie-breaking vote cast by Vice President Kamala Harris. 

U.S employers added just 49,000 jobs in January, a sign that that the viral pandemic retains a tight grip on the economy nearly a year after it triggered a painful recession.

The number of Americans seeking unemployment benefits fell to 779,000 last week, a historically high total that shows that a sizable number of people are still losing jobs to the viral pandemic.

The resolution called on President Biden to take executive action to "administratively cancel up to $50,000 in Federal student loan debt for Federal student loan borrowers" using "existing legal authorities" under the Higher Education Act of 1965.

A hopeful view is gaining steam that as vaccinations reach a critical mass, perhaps around midyear, and the government provides further stimulus, the economy and the job market will strengthen much faster than they did after previous recessions.

The investment firm Citron Research has discontinued its practice of providing reports on short selling. Here’s what that means.

Robinhood, the online trading platform at the center of a speculative frenzy involving shares of GameStop, AMC and other flailing companies, told its customers Thursday that it would be allowing “limited buys” of these companies starting Friday.

Amid the recent astronomical surge in value of shares of struggling companies like GameStop and AMC, trading strategies like short selling and short squeezing have been trending all over social media, leaving many scrambling to keep up. Here’s what you need to know to understand what’s going on.

Robinhood and other online trading platforms moved to restrict trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors.

Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.

The number of Americans applying for unemployment benefits fell to a historically high 847,000 last week, a sign that layoffs remain high as the coronavirus pandemic continues to rage.

President Joe Biden signed on Monday an executive order that aims to boost government purchases from U.S. manufacturers, according to administration officials.

The Senate Finance Committee has approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th Treasury secretary.

President Joe Biden plans to take executive action to provide a stopgap measure of financial relief to millions of Americans.

Fewer Americans applied for unemployment benefits last week, lowering claims to 900,000, still a historically high level that points to further job cuts in a raging pandemic.

U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.

Janet Yellen, President-elect Joe Biden's choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget deficits.

The Internal Revenue Service will delay the start of tax filing season until Feb. 12, 2021, which pushes the date when the tax agency will begin accepting and processing 2020 tax year returns.