The budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020.

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Treasury Secretary Janet Yellen says the economic recovery is going to be “bumpy,” with high inflation readings likely to last through the end of this year.

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The U.S. Treasury Department said Thursday that it supports a global minimum corporate tax rate of at least 15% — below the 21% minimum it has been seeking to impose on the foreign profits of U.S.-based companies.

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An improving stock market helped Maryland’s $40.25 billion pension system enjoy a 10.6 percent return on investment in fiscal 2013, the Maryland State Retirement Agency announced Tuesday.

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WASHINGTON — The Federal Reserve said Wednesday that the U.S. economy “paused” in recent months because of temporary factors and reaffirmed its commitment to try to stimulate growth by keeping borrowing cheap for the foreseeable future. The Fed took no ...

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WASHINGTON — JPMorgan Chase & Co. has been ordered to take steps to correct poor risk management that led to a surprise trading loss last year of more than $6 billion. Federal regulators are also citing the nation’s largest bank ...

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WASHINGTON — The Federal Reserve may be preparing to take further steps to stimulate an economy that remains too weak to reduce high unemployment. Minutes of the Fed’s Oct. 23-24 policy meeting, released Wednesday, suggest that it might unveil a ...

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WASHINGTON — Foreign demand for U.S. Treasury securities rose to a record level in July and China increased its holdings after two months of declines. The Treasury Department said Tuesday that total foreign holdings rose 0.7 percent in July to ...

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WASHINGTON — The Federal Reserve unleashed a series of bold and open-ended steps Thursday designed to stimulate the economy by boosting the stock market and making it cheaper for people to borrow and spend. The Fed said it will spend ...

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WASHINGTON — The Federal Reserve said Wednesday that the U.S. economy is losing strength and repeated a pledge to take further steps to stimulate growth if the job market doesn’t show sustained improvement. The Fed took no new action after ...

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