Economy

Economy

Financial Markets Are Nervous The Government Could Default On Its Debts

8:13am September 29, 2021

by Scott Horsley

Senate Republicans once again blocked an effort to increase the government's borrowing authority, raising the risk of an unprecedented federal default in less than three weeks.

California's Eviction Moratorium Ends On Thursday

6:46am September 29, 2021

by Kate Wolffe

The law has kept people from falling into homelessness during the pandemic. But many say rental assistance money has been hard to access.

Mail Delivery Is About To Get Permanently Slower And Pricier For The Holidays

8:08pm September 28, 2021

by Jonathan Franklin

Some of the changes will result in increased transit times for cross-country and other long-distance deliveries. The price increases will not affect shipping for international products.

Dual Challenge: Combating The Shortage Of Labor Workers And Supply Chain Breakdown

5:04pm September 28, 2021

Companies are already warning customers to begin holiday shopping as there will be major product delays due to the global supply chain breakdown and shortage of labor workers.

Oil Topped $80 Dollars Per Barrel — The Most It's Cost In Almost 3 Years

4:50pm September 28, 2021

by Camila Domonoske

Energy prices are going up — for things like coal, natural gas and crude oil. On Tuesday, global crude oil prices topped $80 a barrel for the first time in nearly three years.

Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell appear before the Senate Banking, Housing and Urban Affairs Committee on Tuesday.

Janet Yellen Says U.S. Could Run Out Of Cash To Pay Its Bills In Less Than 3 Weeks

4:50pm September 28, 2021

by Scott Horsley

Treasury Secretary Janet Yellen warned lawmakers the government could run out of money by Oct. 18 unless Congress raises the debt ceiling.

Secretary of Commerce Gina Raimondo, pictured in June, is outlining her economic agenda. One goal is to increase U.S. semiconductor manufacturing.

Commerce Secretary Gina Raimondo Calls For The U.S. To Counter China's Economic Power

4:26pm September 28, 2021

by James Doubek

The Chinese government is blocking its airlines from buying Boeing airplanes, Raimondo said. She criticized Beijing for its trade barriers and is pushing for more investment in U.S. manufacturing.

The halted under-construction Evergrande Cultural Tourism City, a mixed-used residential, retail and entertainment development in Taicang in China's eastern Jiangsu province.

Senate Republicans are expected to block a vote to extend government funding and the raise the federal debt ceiling, increasing the odds of a government shutdown and a debt default in mid-October.