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Money & Markets

VP Harris seeks computer chip partners in Japan meetings

TOKYO — Armed with a new law that boosts U.S. support for computer chip manufacturing, Vice President Kamala Harris said the administration was looking for new investments and partnerships as she sat down with Japanese technology executives on Wednesday. The morning meeting on her last full ...

Powell’s stark message: Inflation fight may cause recession

WASHINGTON — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists ...

Bank CEOs warn that US economy faces ‘daunting’ challenges

WASHINGTON — The CEOs of the nation’s biggest banks appeared in front of Congress Wednesday and gave a dim view of the U.S. economy, reflecting the financial and economic distress many Americans are facing. JPMorgan Chase’s Jamie Dimon, Citigroup’s Jane Fraser and other chief ...

US: 48 exploited pandemic to steal $250M from food program

MINNEAPOLIS — United States authorities charged 48 people in Minnesota with conspiracy and other counts in what they said Tuesday was the largest pandemic-related fraud scheme yet, stealing $250 million from a federal program that provides meals to low-income children. Federal prosecutors ...

Bill Clinton: ‘The world’s on fire,’ but teamwork can help

NEW YORK — Former President Bill Clinton is calling on governments, businesses, philanthropies and other prominent institutions to draw together and help a world that is “on fire” as he reconvenes the Clinton Global Initiative, the meeting of international leaders, for the first time ...

Treasury recommends exploring creation of a digital dollar

WASHINGTON — The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden ...