JASON FURMAN

Even President Joe Biden has some regrets about the name of the Inflation Reduction Act.

When it comes to reassuring Americans about an economy that's an election-year challenge to his party, President Joe Biden is telling the country to hold on.

With inflation raging near its highest level in four decades, President Joe Biden on Tuesday signed into law his landmark Inflation Reduction Act.

In a story published July 30, 2022, The Associated Press reported that the Congressional Budget Office estimated that an insulin bill would increase the price of the drug.

Inflation’s relentless surge didn’t merely persist in June.

The U.S. and its allies are working on new measures to cap the price of Russia's oil, its main source of revenues.

A strong hiring report for June has assuaged fears that the U.S. economy might be on the cusp of a recession — and highlighted the resilience of the nation’s job market.

Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits.

In a pointed back and forth, the head of Chevron has complained that President Joe Biden has vilified energy firms at a time when gasoline prices are at near record levels and the president responded that the oil company CEO was being “mildly sensitive.”.

President Joe Biden came before the television cameras Friday to celebrate yet another month of healthy job growth and low unemployment and the fastest pace of hiring in four decades under his watch.

It's been one year since President Joe Biden signed into law the American Rescue Plan.

While the Ukraine crisis presents the U.S. with a foreign policy threat, it's also pushing gasoline prices higher at home.

President Joe Biden and the White House were bracing for bad economic news.

With inflation surging, unemployment falling and wages rising, some economists are warning that the Federal Reserve may have waited too long to reverse its ultra-low-rate policies — a delay that could put the economy at heightened risk.

Americans’ overall income has accelerated since the pandemic, but so has inflation — and a new poll finds that far more people are noticing the higher prices than the pay gains.

Federal Reserve Chair Jerome Powell surely expected to have some breathing room after taking the first step this month to dial back the Fed’s emergency aid for the economy.

Two months of sharply rising prices have raised concerns that record-high government financial aid and the Federal Reserve’s ultra-low interest rate policies — when the economy is already surging — have elevated the risk of accelerating inflation.

The White House believes it has an ally in the bond markets to make the case that inflation isn’t an economic threat.

President Joe Biden is portraying the May jobs report as a jumping off point for more spending on infrastructure and education.

Far more Americans are receiving unemployment benefits than the last time the jobless rate was at the current 6.1%, thanks to a major expansion of the federal safety net that has provided aid to millions of people out of work.

Americans are experiencing flickers of optimism at the one-year anniversary of the deadly outbreak as more people are vaccinated. But new strains of the virus and a still shaky economy could unleash another devastating cycle of infections, lockdowns and deaths. Biden and Democrats warn that now is not the time to let up on aid, and that it's better to risk doing too much than too little. McConnell expressed similar optimism last spring when he hit “pause” on new spending after approval of the initial round of aid. GOP Sen. Mike Braun of Indiana said by the time they're done they hope to turn public opinion around.

AdIt’s a tested strategy but comes at an uncertain, volatile time for the nation. Americans are experiencing flickers of optimism at the one-year anniversary of the deadly outbreak as more people are vaccinated. But new strains of the virus and a still shaky economy could unleash another devastating cycle of infections, lockdowns and deaths. Biden and the Democrats backing him warn that now is not the time to let up on aid — better to risk doing too much, than too little. GOP Sen. Mike Braun of Indiana said by the time they're done they hope to turn public opinion around.

(AP Photo/Andrew Harnik)BALTIMORE – When Joe Biden entered the White House as vice president, the economy was cratering. Biden returns to the White House as president a dozen years later with the economy battered and shaken by a pandemic. The investment bank Goldman Sachs estimates that growth this year could be 6.6% if part of Biden's stimulus plan passes. That would be the strongest gain since 1984, when a 7.2% increase in the gross domestic product helped carry Republican President Ronald Reagan to a second term in a landslide. For now, the Biden team is hoping to push through its stimulus with Republican support in the Senate.

LONDON – Britain plans to create a new watchdog to police big tech companies including Google and Facebook to counter their market dominance and prevent them from exploiting consumers and small businesses. The Digital Markets Unit, scheduled to launch in April, will oversee a new regulatory regime for tech companies that's aimed at spurring more competition. In the U.S., authorities are pursuing an antitrust case against Google and lawmakers have proposed breaking up big tech companies. The government still needs to consult on how the digital markets unit will operate and approve legislation for it. Under the new code, tech companies would have to be more transparent about how they use consumers’ data.

Congress is past the point at which it can deliver more coronavirus aid soon, with differences between House Speaker Nancy Pelosi, Senate Republicans and President Donald Trump proving insurmountable. McConnell on Tuesday told fellow Republicans that he has warned the White House not to divide Republicans by sealing a lopsided $2 trillion relief deal with House Speaker Nancy Pelosi before the election — even as he publicly said he'd slate any such agreement for a vote. said Senate GOP Whip John Thune of South Dakota. Senate Republicans are recoiling at both the size of the measure and Pelosi's demands, even as Trump is beating the drums for an agreement. But the Senate GOP bill has failed once before, and Trump himself says it's too puny.

She said the two sides would take stock on Tuesday, which she has staked out as the deadline if a deal is to be reached before the election. Pelosi is angling for the best deal she can get — maybe that’s now, maybe it’s later. And if history is any guide, prospects for a deal in the lame-duck session after the election could be dim. But the Senate GOP bill has failed once before, and Trump himself says it's too puny. For months she has been promising a COVID relief package of more than $2 trillion stuffed with Obama-era stimulus ideas.

The economy is in terrible shape and improving rapidly, said Harvard University professor Jason Furman, formerly the top economist in the Obama White House. Overall, 63% of the country says the economy is in poor shape, down somewhat from the 70% who felt that way in May. The change was driven by increasingly optimistic Republicans, only 43% of whom described the economy as good a month ago. Forty-two percent of white Americans say the same. Thirty-four percent of Hispanics, 29% of African Americans and 20% of white Americans said someone in their household has been laid off.

Paul Winfree, a former Trump White House director of budget policy, doubted that the holdup on the economic update was on Trump's radar. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, noted that the law requires the White House to update its budget forecast. In 2017, the Trump administration criticized the Obama administration for rosy expectations of growth during the Great Recession more than a decade ago. An updated forecast in the mid-session review could make the Trump White House a similar target for criticism. This is a White House that is in denial about the trajectory of the economy.___Associated Press writers Alexandra Jaffe and Emily Swanson in Washington contributed to this report.