From left, Rep. Karen Bass, D-Calif., Sen. Tim Scott, R-S.C., Sen. Cory Booker, D-N.J., and Rep. Josh Gottheimer, D-N.J., speak to reporters in Statuary Hall in the U.S. Capitol after their meeting on police reform on Tuesday, May 18, 2021. Bill Clark | CQ-Roll Call, Inc. | Getty Images Police […]
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Average daily U.S. Covid deaths climb above 2,000 for the first time since March
Clinicians work on intubating a COVID-19 patient in the Intensive Care Unit (ICU) at Lake Charles Memorial Hospital on August 10, 2021 in Lake Charles, Louisiana. Mario Tama | Getty Images An average of more than 2,000 Americans are once again dying from Covid every day, a grim threshold that […]
Facebook chief technology officer to step down
Facebook Chief Technology Officer Mike Schroepfer announced on Wednesday he will be stepping down from his role. Schroepfer will transition to a part time role with the company, and in 2022, he will be replaced by Andrew “Boz” Bosworth, who is currently the head of Facebook’s hardware division. Schroepfer informed […]
The Fed is evaluating whether to launch a digital currency and in what form, Powell says
The Federal Reserve is pushing ahead with its study into whether to implement its own digital currency and will be releasing a paper on the issue shortly, Chairman Jerome Powell said Wednesday. No decision has been made on the matter yet, he added, and said the Fed does not feel […]
Dow rebounds more than 300 points from 4-day slide as Fed is not ready to remove stimulus yet
U.S. stocks rallied on Wednesday after the Federal Reserve indicated it doesn’t see an imminent rollback of the monetary stimulus that has been supporting the economy throughout the pandemic. The Dow Jones Industrial Average advanced 338.48 points, or 1%, to 34,258.32, snapping a four-day losing streak. The blue-chip Dow closed […]
Federal Reserve holds interest rates steady, says tapering of bond buying coming ‘soon’
The Federal Reserve on Wednesday held benchmark interest rates near zero but indicated that rate hikes could be coming sooner than expected, and it significantly cut its economic outlook for this year. Along with those largely expected moves, officials on the policymaking Federal Open Market Committee indicated they will start […]
Dow rebounds 380 points, on track to snap 4-day losing streak after Fed decision
U.S. stocks held onto their gains on Wednesday after the Federal Reserve indicated they will soon begin paring back on some of the monetary stimulus to support the economy throughout the pandemic. The Dow Jones Industrial Average advanced 330 points, or 1%, led by Chevron and Boeing. The 30-stock Dow […]
Half of the Fed members now see the central bank hiking rates next year
The Federal Reserve building is pictured in Washington on Monday, March 8, 2021. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images Half of the Federal Reserve members now see the first interest rate hike in 2022, according to the central bank’s so-called dot plot of projections. Wednesday’s forecast showed […]
Six former Treasury secretaries urge Congress to ‘move swiftly’ on debt ceiling
Raindrops are illuminated by a camera flash, as the Hurricane Ida passes over the region, at the U.S. Capitol in Washington, September 1, 2021. Tom Brenner | Reuters Six former Treasury secretaries on Wednesday urged Congress to take quick action to raise or suspend the U.S. debt ceiling or else […]
Biden will meet with more than a dozen key Democrats as infrastructure and budget bills hang in the balance
U.S. President Joe Biden speaks outside the White House with Sen. Kyrsten Sinema (D-AZ), Sen. Joe Manchin (D-WV), Sen. Mark Warner (D-VA). Kevin Dietsch | Getty Images WASHINGTON – After weeks of rising tensions among congressional Democrats, President Joe Biden is stepping in Wednesday to personally attempt to resolve divisions […]