Kids

The White House says it's up to Congress to decide on sending more stimulus checks, saying they're 'not free'

14 days ago   |   By Business Insider

White House Press Secretary Jen Psaki.
Alex Wong/Getty Images
The White House said it will be up to Congress to decide if more stimulus checks go out this year.
"We'll see what members of Congress propose, but those are not free," Psaki said.
Lawmakers are unlikely to approve additional payments as the economy displays signs of improvement.
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The White House said Tuesday it will be up to Congress to decide if more direct payments go out the door this year, saying they are a costly measure for the federal government to deploy. "We'll see what...
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Tech stocks plummet as Yellen says interest rates may need to rise

14 days ago   |   By Business Insider

A trader works on the floor at the New York Stock Exchange in New York City, U.S., March 5, 2020.
Andrew Kelly/Reuters
US stocks sank Tuesday as Treasury Secretary Yellen said interest rates may need to rise to prevent the economy from overheating.
Tech stocks led losses with Apple, Amazon, and Tesla all in the red at the close.
The Treasury Secretary's comments contrast with the Fed's plans to hold rates near zero through 2023.
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US stocks dropped sharply on Tuesday after Treasury Secretary Janet Yellen said interest...
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Treasury Secretary Janet Yellen says higher interest rates may be needed so economy doesn't 'overheat'

14 days ago   |   By Business Insider

Treasury Secretary Janet Yellen.
Jacquelyn Martin/AP
It might be necessary to lift interest rates to keep the economy from overheating, Janet Yellen said.
The Treasury Secretary's comments contrast with the Fed's plans to hold rates near zero through 2023.
Some experts fear Biden's latest spending plans risk dangerously strong inflation.
See more stories on Insider's business page .
Treasury Secretary Janet Yellen is among the country's most experienced economic policy experts. A veteran of the Clinton and Obama administrations, Yellen has long been characterized as an economist closely...
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Treasury Secretary Janet Yellen says a 'shocking' $7 trillion in taxes are going uncollected

14 days ago   |   By Business Insider

Treasury Secretary Janet Yellen.
Manuel Balce Ceneta/AP
Yellen told The Atlantic that the tax gap is a "shocking" $7 trillion over a decade.
Her remarks reflect the White House's resolve to collect taxes from high earners and big firms to cover their spending.
Treasury has said the tax gap could worsen if no additional action is taken.
See more stories on Insider's business page .
Treasury Secretary Janet Yellen said a "shocking" amount of taxes are going uncollected by the federal government, and urged additional action to fetch this money from the wealthiest Americans. "It's really...
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