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Money & Markets

Fighting gas prices, US to release 50 million barrels of oil

WASHINGTON — President Joe Biden on Tuesday ordered a record 50 million barrels of oil released from America’s strategic reserve, aiming to bring down gasoline and other costs, in coordination with other major energy consuming nations including India, the United Kingdom and China. The ...

Biden to keep Powell as Fed chair, Brainard gets vice chair

WASHINGTON — President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed’s ultra-low rate policies helped bolster confidence and revitalize ...

House moves toward OK of Dems’ sweeping social, climate bill

WASHINGTON — A divided House moved toward passage Thursday of Democrats’ expansive social and environment bill as new cost estimates from Congress’ top fiscal analyst suggested that moderate lawmakers’ spending and deficit worries would be calmed, moving President Joe Biden closer to a ...

Under pressure, Apple allows self-repairs to iPhones, Macs

Apple is letting some iPhone users fix their own phones, a sharp turnaround for a company that has long prohibited anyone but company-approved technicians from fiddling with its proprietary parts and software. The company said Wednesday that it will enable users of two of the newest iPhone ...

Yellen extends to Dec. 15 date for potential debt default

WASHINGTON — Treasury Secretary Janet Yellen told Congress Tuesday that she believed she would run out of maneuvering room to avoid the nation’s first-ever default soon after Dec. 15. In a letter to congressional leaders, Yellen said that she believed Treasury could be left with ...

Washington seeks over $38 billion from opioid distributors

SEATTLE — After rejecting a half-billion-dollar settlement, Washington Attorney General Bob Ferguson on Monday took the state’s case against the nation’s three biggest drug distributors to trial, saying they must be held accountable for their role in the nation’s opioid epidemic. The ...