Money and Policy

Treasury Secretary Steven Mnuchin touted continued economic growth as the country recovers from being shut down earlier this year due to the coronavirus pandemic while warning that new restrictive measures are impeding that progress.

President-elect Joe Biden on Monday formally announced former Federal Reserve Chair Janet Yellen as his pick for Treasury secretary.

The massive social safety net that Congress put in place for Americans struggling because of the coronavirus pandemic is unraveling, with several key CARES Act provisions and executive orders set to expire at the end of the year. 

President-elect Joe Biden is expected to announce several members of his economic team next week — a team, transition officials said, that "will look like America."

As the ravages of the novel coronavirus forced millions of people out of work, shuttered businesses and shrank the value of retirement accounts, the Dow Jones Industrial Average plunged to a three-year low. But for Sen. David Perdue, a Georgia Republican, the crisis last March signaled something else: a stock buying opportunity.

Some Democratic lawmakers opened the door this week to a smaller coronavirus relief deal as Congress faces growing pressure to pass an aid package before the end of the year.

A group of more than 125 economists is calling on Congress to send out more direct cash payments to American families to help them weather the coronavirus pandemic and subsequent economic downturn.

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer urged Senate Majority Leader Mitch McConnell to resume negotiations on another coronavirus relief package with the clock running out for Congress to strike a deal before year's end.

JPMorgan Chase CEO Jamie Dimon lashed out at Congress for a months-long deadlock over another coronavirus relief package to help American workers and families still reeling from the pandemic-induced recession. 

The White House said it remains confident Shelton will ultimately be confirmed.