Federal Reserve Chairman Ben Bernanke approves of plans to bring federal deficits under control, but he tells senators not to link such a move to a coming vote on raising the debt ceiling.
The American government hints at trade sanctions against China, but those won't address the core problems: China needs to keep its people employed, and America needs its consumers to start consuming.
President Obama on Thursday again stressed his commitment to double US exports in five years and, thus, create 2 million jobs. Is a tougher stance toward China part of his plan?
The Senate passed financial reform Thursday, and President Obama will sign it, but many of the tough decisions will be made by federal regulators. How they interpret the bill will be key.
President Obama's nominee for second-in-command at the Federal Reserve, Janet Yellen, is 'dovish' on inflation – she's not likely to tighten monetary policy to counteract it.
House and Senate conferees crafted a final version of financial reform legislation Friday. Both houses are expected to vote on the bill next week.
President Obama hoped to reach out to Senate Republicans in a meeting Tuesday. But 'we simply have a large difference of opinion,' one said.
Negotiations with the House over the final financial reform bill are expected to be more transparent than they were with health-care reform. Exemptions or special deals sought by industry lobbyists are likely to stir intense debate.