U.S. Economy

Rep. Alexandria Ocasio-Cortez criticized President Biden after he shot down a proposal from progressive Democrats to eliminate $50,000 in student loan debt.

U.S. retail sales soared in January as consumers boosted their spending. 

President Joe Biden's administration announced on Tuesday that it would extend a federal moratorium on home foreclosures and foreclosure relief programs for homeowners through June.

Many engineered wood products used in new construction, such as I-joists, are in short supply, and mills are backlogged with orders well into March, the pricing service said.

Companies including Old Dominion Freight Line Inc., ArcBest Corp. and Saia Inc. are expanding as businesses try to make their supply chains more nimble to catch up to rapidly shifting consumer demands.

Americans who have not received their coronavirus stimulus check payments, or who received the incorrect amount, have an opportunity to claim the missing money now that the 2020 tax season is officially underway. 

More than one-third of Americans expect to save — not spend — the $1,400 stimulus check that President Biden is urging Congress to pass.

Millions of out-of-work Americans who collected unemployment benefits last year as a result of the coronavirus pandemic could be in for an unpleasant surprise with tax season officially open. 

The House Ways and Means Committee advanced key portions of President Biden's coronavirus relief bill, including the third round of $1,400 payments and a major expansion of the Child Tax Credit.

Fleeing small apartments, buying vacation homes or simply looking for a change of scenery amid the crushing boredom of lockdowns, people scrambled to buy houses amid the pandemic, spurring bidding wars and supercharging real-estate markets across the country.

The Congressional Budget Office says the federal government is on track for a $2.3 trillion deficit this year, down roughly $900 billion from last year when the coronavirus pandemic led Congress to provide historic amounts of financial aid.

Treasury Secretary Janet Yellen warned about an "explosion of risk" from digital markets, including the misuse of cryptocurrencies that can be used to launder to profits of online drug traffickers and to finance terrorism. 

The $15 federal minimum wage increase proposed by Democrats will lead to higher child care costs for many families as child care providers pass on the costs of higher wages to parents, according to an analysis from the conservative-leaning Heritage Foundation.

House Democrats unveiled a proposal this week to overhaul the long-standing Child Tax Credit, calling for more generous payments as part of a broader coronavirus relief effort.

The Labor Department released new figures on Thursday showing how many Americans filed for jobless aid last week.

Amazon CEO Jeff Bezos, the richest man in the world, would owe close to $2 billion a year in state income taxes under a proposed wealth tax in Washington.

House Democrats rejected a push from some of the party's centrist members to sharply curtail which Americans will receive a third stimulus check. 

Rep. Alexandria Ocasio-Cortez on Thursday reiterated her push for President Biden to unilaterally cancel billions of dollars in student loan debt.

U.S. agricultural exports to China have surged in recent months, after the countries called a truce on their trade dispute in early 2020.

President Biden on Tuesday said he supported a proposal from House Democrats that would send $1,400 stimulus checks to Americans earning up to $75,000 annually.