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Fed's Dudley Makes Case for Rate Rises, Warns of Overheating Risks

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New York Fed President William Dudley said the case for rate rises this year remains robust amid risks the economy could overheat, and warned that the new tax law could boost the U.S. deficit over time.

Watchdog Finds No Political Interference in Tax-Bill Analysis

Career Treasury Department staffers were "fully engaged" in the process of analyzing a Republican tax bill, and denied that political appointees had taken over the process, according to a government watchdog inquiry.

Tax Overhaul's New Withholding Calculations for Paychecks Are Released

The Treasury Department updated its rules for tax withholding from paychecks, changing calculations so most workers will start getting more take-home pay in February as a result of the recently passed tax law.

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U.S. Ran $23 Billion Budget Deficit in December, Treasury Says

The federal budget deficit for December narrowed from a year ago, amid flat government spending and higher tax receipts, the Treasury Department said.

The Spark Behind Iran's Unrest: Millions of Defrauded Investors

The collapse of investment firms offering outlandish returns fueled the protests that grew into the biggest challenge to the regime since 2009. Iranians blame the firms for pocketing funds and the government for not adequately regulating the industry.

Argentina Fails to Tame Stubborn Inflation

Argentina significantly overshot its inflation target in 2017 as prices rose almost 25% from the previous year, raising questions about the country's ability to tame a problem that has plagued it off and on for decades.

Senate Panel to Vote Again Wednesday on Powell's Fed Nomination

The Senate Banking Committee will vote next week for the second time on the nomination of Jerome Powell to be the next Federal Reserve chairman, a spokeswoman said.

Jockeying Is Under Way to Succeed ECB's Draghi

The first decisions narrowing the field of potential successors to become the next head of the European Central Bank in 2019 are just weeks away, Todd Buell writes, with the role of Germany looming as a central question.

Bitcoin Plunges as South Korea Crafts Crypto Crackdown

Bitcoin prices tumbled as much as 13.7% Thursday, as a top official from South Korea said the government is preparing a bill to ban the trading of cryptocurrencies on exchanges.

Economists Credit Trump as Tailwind for U.S. Growth

Economists surveyed by The Wall Street Journal say President Donald Trump has had generally positive effects on U.S. economic growth, hiring and the performance of the stock market during his first year in office.

(END) Dow Jones Newswires

January 11, 2018 21:15 ET (02:15 GMT)