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Biden to nominate Yellen, highlight diversity on econ team
Biden announced he would nominate Janet Yellen, the former Federal Reserve chair, to lead the Treasury Department, and former Clinton and Obama adviser Neera Tanden to serve as director of the Office of Management and Budget.
Judge rules US must release $679M in tribal virus relief funds
The U.S. Treasury Department must release $679 million in coronavirus relief funding for tribes that it intended to withhold while a court challenge over the agency’s initial round of payments to tribal governments played out in court, a federal judge ruled late Monday.
Trump: Postal Service must charge Amazon more, or no loan
“The Postal Service is a joke because they’re handing out packages for Amazon and other internet companies and every time they bring a package, they lose money on it,” President Trump told reporters in the Oval Office.
CBO says deficit to reach $3.7 trillion in economic decline
The 2020 budget deficit will explode after four coronavirus response bills passed by Congress and signed by President Donald Trump promise to pile more than $2 trillion onto the $24.6 trillion national debt in just the remaining six months of the current fiscal year, according to the report.
Fed will provide monthly disclosures on support programs
The central bank is “committed to transparency and accountability by providing the public and Congress detailed information about our actions to support the economy during this difficult time,” Federal Reserve Chair Jerome Powell said.
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