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Fed Leaves Interest Rates Unchanged as Economy Begins to Heal The Federal Reserve said the economy had “strengthened” but opted to continue providing support while playing down a rise in inflation. Video -0:00 Fed Leaves Interest Rates Near Zero Amid Continued Economic Risks Jerome H. Powell, the Federal Reserve chair, said on Wednesday that the nation would need to show greater progress toward substantial recovery before policies designed to bolster the economy would be lifted. Today, my colleagues on the FOMC and I kept interest rates near zero, and maintained our sizable asset purchases. These measures, along with our strong guidance on interest rates and on our balance sheet, will ensure that monetary policy will continue to deliver powerful support to the economy until the recovery is complete. Widespread vaccinations, along with unprecedented fiscal policy actions, are also providing strong support to the recovery. Since the beginning of the year, ....
Coal Miners Union Seeks Voice in Move to Renewable Energy: Live Updates nytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nytimes.com Daily Mail and Mail on Sunday newspapers.
The U.S. is Losing $1 Trillion Annually to Tax Cheats: Live Updates S&P 500 Source: Factset Charles Rettig, the commissioner of the Internal Revenue Service, said during a Senate Finance Committee hearing that the agency lacks the resources to go after tax cheats.Credit.Anna Moneymaker for The New York Times The United States is losing approximately $1 trillion in unpaid taxes every year, Charles Rettig, the Internal Revenue Service commissioner, estimated on Tuesday, arguing that the agency lacks the resources to catch tax cheats. The so-called tax gap has surged in the last decade. The last official estimate from the I.R.S. was that an average of $441 billion per year went unpaid from 2011 to 2013. Most of the unpaid taxes are the result of evasion by the wealthy and large corporations, Mr. Rettig said. ....
Inflation Rate Rises as the Economy Reawakens: Live Updates nytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nytimes.com Daily Mail and Mail on Sunday newspapers.
Tech Stocks Rally, Leading S&P 500 Above 4,000: Live Updates RIGHT NOW By: Ella Koeze·Data delayed at least 15 minutes·Source: FactSet A rally in big technology stocks, a tailwind of economic optimism following the latest big spending plan from the Biden administration and a jump in oil prices all came together on Thursday to lift Wall Street and lead the S&P 500 index above 4,000 for the first time. It was a second consecutive day of gains in technology stocks, which had struggled in February and March to keep pace with the rest of the market as investors shifted their focus to companies that stood to gain from the pandemic recovery, such as smaller businesses and manufacturing and industrial firms. ....