WASHINGTON —U.S. House Speaker Kevin McCarthy pledged Monday that the narrow Republican majority in the House of Representatives will vote to raise the country’s debt ceiling to avert a default on the government’s financial obligations in the coming months, but will also stipulate that future spending increases be capped at 1%. The White House strongly […]
“We’re going to be aggressively buying back, and consistently,” said Morgan Stanley chief executive James Gorman. For millions of regular Americans, the end of 2020 was marked by economic distress, with millions suffering pandemic-triggered job losses—and thus the loss of their employer-tied health insurance—still waiting on robust economic relief from federal lawmakers, and facing a weak social safety net. For the nation’s biggest banks, […]
“This is a frightening amount of public money to have given a corrupt administration with zero accountability.” Progressive lawmakers on Friday evening denounced President Donald Trump’s intention to disregard provisions in the just-passed coronavirus relief bill that would provide crucial oversight of $500 billion in taxpayer money already poised to be a “Wall […]
U.S. stocks fell sharply Friday, despite congressional approval of a $2.2 trillion economic stimulus bill, as world economies continued to grapple with containing the coronavirus pandemic. The Dow Jones industrial average fell nearly 4.1%, while the S&P 500 dropped 3.4% and the Nasdaq Composite Index was down 3.8%. Stocks rallied earlier this week […]