Yellen makes a case for bold stimulus spending on Capitol Hill
CNN
Janet Yellen, President-elect Joe Biden's pick for Treasury secretary, struck a bipartisan tone at her confirmation hearing Tuesday, urging Congress to move swiftly on bold stimulus spending while acknowledging the implications for America's debt burden.
Yellen, who would be the first female Treasury secretary in American history, underscored the urgency of Biden's proposed $1.9 trillion stimulus proposal. With interest rates at historic lows, she said, "the smartest thing we can do is act big." While the priority must be to get the economy back on track, she said, leaders are responsible for putting the federal budget on a sustainable path and "make sure that what we do in respect to deficit and debt will leave future generations better off."
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
Inflation slowed in February for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.
With his chaotic trade policy, President Donald Trump is digging himself into an economic and political hole so deep, it may prove impossible to climb out.
American consumers – and their wallets – are the engine of the economy. But they’re now showing the strain of inflation, President Donald Trump’s tariffs and a stock market plunge.
Elon Musk has secured a major win in India by signing two back-to-back deals to bring SpaceX’s Starlink satellite internet services to the country.
President Donald Trump imposed a sweeping 25% tariff on all steel and aluminum imported into the United States early Wednesday, a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.
Meta is once again facing allegations from a former employee that a growth-at-all-costs culture has caused offline harm.
It was almost an extraordinary scene in front of the White House. As Tesla shares have been tanking since the year began, President Donald Trump held remarks outside of the White House with the company’s CEO and Department of Government Efficiency Head Elon Musk – all in front of a line of shiny Tesla vehicles.
A Florida circuit judge on Monday denied the Pulitzer Board’s request to pause a defamation lawsuit from Donald Trump until the president is out of office.
US markets dropped again Tuesday after President Donald Trump doubled down on his threat to levy a new round of hefty tariffs on Canada.
President Donald Trump on Tuesday threatened a sharp escalation in the budding trade war with Canada in retaliation for Ontario’s export surcharge on US electricity.
Months after ditching its open seating policy, Southwest Airlines is ending its most recognizable perks: Free checked baggage.
Elon Musk spent the weekend with President Donald Trump at Mar-a-Lago, getting a round-trip ride on Air Force One. While Musk has spent an increasing amount of time with Trump, three of his companies are having a rough go.