The Dow Jones slumped over 600 points as financial troubles at property developer China Evergrande Group became the latest in a growing list of concerns for Wall Street.
A larger White House campaign is targeting what it calls anti-competitive behavior in several industries, including meatpacking, in which over 80% of beef goes through just four companies.
Federal Reserve Chairman Jerome Powell says the economy continues its recovery, hinting the central bank could dial back its extraordinary efforts to prop up the economy later this year.
The Federal Reserve has provided massive support to markets through the pandemic. Now it faces a tricky decision: how to start removing some of that help without triggering a market sell-off.
The U.S. economy grew 6.5% pace in the April-June quarter, continuing to strengthen from the worst of the pandemic. A slowdown is inevitable; the question is how much it will slow.
In an interview with NPR, the Treasury secretary calls to permanently expand the child tax credit being paid out to American families starting this week.
The Fed is maintaining its easy money policies for now in an effort to speed the economic recovery. It left interest rates near zero despite a jump in consumer prices.
The Labor Department says consumer prices jumped 5% for the 12 months ending in May. That's the sharpest increase in nearly 13 years, as the economy rebounds from the pandemic recession.
