Economy

Economy

Reddit Users Vs. Wall Street Giant In Fight Over GameStop Stock Value

4:18pm January 27, 2021

by Mary Childs

A group of amateur stock investors has banded together on Reddit to take on a Wall Street giant in a fight for the value of the stock for GameStop. For now, the little guys are winning.

Housing discrimination against communities of color also involves lenders, local zoning laws and other issues, says Andre Perry, a senior fellow at the Brookings Institution.

Biden's Push Against Housing Discrimination Must Go Beyond HUD, Researcher Says

2:09pm January 27, 2021

Andre Perry of Brookings says discrimination against communities of color also involves lenders, zoning laws and other issues in which the Department of Housing and Urban Development is less involved.

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Iraqis Forced To Cope With Country's Economic Hard Times

6:17am January 27, 2021

by Alice Fordham

In Iraq, a huge share of the country relies on government salaries. But the government relies on oil revenues which have been falling. The purchasing power of average Iraqis has dropped.

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New Treasury Secretary Wants Congress To 'Act Big' With Pandemic Response

4:22pm January 26, 2021

by Scott Horsley

Janet Yellen, who was sworn in as Treasury secretary on Tuesday, is urging lawmakers to "act big" in response to the pandemic. But some Republican lawmakers are balking at increased government debt.

Lights placed as a memorial to COVID-19 victims surround the Lincoln Memorial Reflecting Pool on Jan. 19. Some economists believe deaths tied to alcohol use, drug use and suicides have risen during the pandemic as the isolation felt by many has taken an e

They Lost Sons To Drug Overdoses: How The Pandemic May Be Fueling Deaths Of Despair

11:43am January 26, 2021

by Scott Horsley

As drug overdose deaths rise during the pandemic, a former White House economist says social isolation could be partly to blame.

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Several brands of cereal boxes fill the shelves at a grocery store.

Is Your 401(k) Colluding To Make Cereal More Expensive?

6:31am January 26, 2021

by Greg Rosalsky

A new study investigates whether common ownership of cereal makers by institutional investors is leading them to become a kind of stealth monopoly.

Janet Yellen addresses an event last month introducing the incoming Biden administration's economic team in Wilmington, Del. Yellen is the first woman to lead the Treasury Department.

Janet Yellen Confirmed By Senate, Making History As First Female Treasury Secretary

7:07pm January 25, 2021

by Scott Horsley

Janet Yellen was confirmed by the Senate to serve as Treasury secretary. She'll be the first woman to hold that post and will lead the Biden administration's efforts to address the pandemic recession.

President Biden signs an executive order Thursday at the White House.

Biden Aims To Close Loopholes In Federal 'Buy American' Provisions

6:32pm January 25, 2021

by Ayesha Rascoe

The measure is part of President Biden's promised push to boost U.S. manufacturing and continues his efforts to sign a slew of executive actions during his first days in office.

Supporters rally outside the U.S. Treasury Department in 2019 to demand that American abolitionist Harriet Tubman's image be put on the $20 bill.

Biden Administration Will 'Speed Up' Efforts To Put Harriet Tubman On $20 Bill

4:27pm January 25, 2021

by Laurel Wamsley

Press secretary Jen Psaki said it's important that "our money ... reflect the history and diversity of our country." The effort to redesign the $20 bill foundered during the Trump administration.

Anna Romero had to quit her part-time job during the coronavirus pandemic to care for her husband, Ivan, who has dementia.

Some Seniors Face Shrinking Nest Eggs As They Care For Loved Ones During Pandemic

2:33pm January 25, 2021

by Sally Herships

Many senior citizens entered their golden years with more debt than previous generations, and now they're struggling financially as they try to provide care for an ailing relative during the pandemic.