by Preetisha Sen | Feb 12, 2014 | Business, Politics
WASHINGTON — The Senate passed the bill to suspend the federal debt ceiling until March 2015 on Wednesday after a crucial 67-31 vote to end debate on the measure, with a flurry of support from Republican leadership. The procedural vote for cloture, which...
by Jeanne Kuang | Feb 11, 2014 | Business, Politics
WASHINGTON—A Congressional Budget Office report that spurred a partisan economic argument last week continued to pit Democrats and Republicans against each other Tuesday. At a Senate Budget Committee hearing, Douglas Elmendorf, head of the non-partisan CBO, said the...
by Preetisha Sen | Feb 11, 2014 | Business
WASHINGTON — In her first appearance before Congress as head of the Federal Reserve, Janet Yellen said the Fed will focus on returning the economy to employment while keeping an eye on whether regulatory reforms for the financial industry are working. Yellen delivered...
by Sylvan Lane | Feb 6, 2014 | Business, Politics
WASHINGTON — The Senate was one vote short of allowing debate on the unemployment insurance extension bill Thursday afternoon, effectively killing the bill and leaving Democrats furious at their Republican counterparts. The final vote – to end debate, and cut...
by Preetisha Sen | Feb 6, 2014 | Business
WASHINGTON — The Volcker rule was designed to prevent another financial crisis similar to 2009, but critics say it will affect average bankers across the country instead of targeting Wall Street financial institutions. The House Financial Services Committee examined...
by Preetisha Sen | Feb 5, 2014 | Business
WASHINGTON — The Volcker rule was designed to prevent another financial crisis similar to 2009, but some critics say it will only slow economic recovery. The House Financial Services Committee examined the Volcker rule today in an effort to weigh its impact on job...
by Jane Herman | Feb 3, 2014 | Business
WASHINGTON — The United States Trade and Development Agency will continue its mission to promote U.S. trade to emerging economies, but is taking note that some of the developing nations want more say in how their economies grow, which can benefit U.S. businesses,...
by Preetisha Sen | Feb 3, 2014 | Business
WASHINGTON – Congress must act before the temporary suspension of the debt ceiling ends this week or the Obama administration will have to take “extraordinary measures” to avoid a default, Treasury Secretary Jacob Lew said Monday at the Bipartisan Policy Center. Lew...
by Jane Herman | Jan 22, 2014 | Business, Living
WASHINGTON – More than 100 Pentagon contract workers carrying poster of Dr. Martin Luther King Jr. and singing “We Shall Overcome” picketed outside the building Wednesday to demand that companies doing business with the federal government raise the...
by Preetisha Sen | Jan 22, 2014 | Business
WASHINGTON – After a disappointing year for the economic health of American cities, the U.S. Conference of Mayors is looking forward to positive growth in jobs and the economy this year. For three days, more than 280 mayors attending the U.S. Conference of...
by Preetisha Sen | Jan 15, 2014 | Business
WASHINGTON –International Monetary Fund chief Christine Lagarde said Wednesday the rate of economic growth is positive but needs to be stronger this year. “Overall, the direction is positive, but global growth is still too low, too fragile and too uneven,” said...
