Scott Horsley appears in the following:
These are some of the people who'll be impacted if the U.S. defaults on its debts
Monday, May 22, 2023
Unless Congress acts to raise the federal debt limit, the U.S. government could run short of cash to pay its bills as early as June 1. Seniors, veterans, government workers and others would suffer.
How not lifting the debt ceiling could affect people, from veterans to homebuyers
Friday, May 19, 2023
Unless Congress and the White House reach a deal to raise the debt ceiling, real people could suffer, from service members to Social Security recipients to would-be homebuyers.
The IRS is building its own online tax filing system. Tax-prep companies aren't happy
Tuesday, May 16, 2023
The IRS is working to develop its own free electronic tax-filing system in a potential challenge to commercial products such as TurboTax. The agency plans a pilot test of the program next year.
FDIC wants big U.S. banks to pay up after deposit insurance covered 2 failed banks
Thursday, May 11, 2023
Backstopping the deposits at two failed banks cost the government billions. The FDIC has a plan to recover that money through a special charge, most of which would be paid by the U.S.'s biggest banks.
Used car prices contributed to the rise of the cost of living index in April
Wednesday, May 10, 2023
Annual inflation fell to 4.9% in April — the lowest it's been in two years — but prices are still climbing. A spike in used car prices contributed to last month's jump in the cost-of-living index.
Inflation stayed high last month, compounding the challenges facing the U.S. economy
Wednesday, May 10, 2023
Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.
Latest inflation information comes as the Fed rethinks its aggressive rate hikes
Wednesday, May 10, 2023
The Labor Department reports Wednesday on consumer prices for April. Inflation has cooled from a four-decade high last summer, but prices are still climbing too fast for comfort.
Black Americans are audited 3 to 5 times as often as other taxpayers
Monday, May 08, 2023
Research shows Black Americans are audited more often as other taxpayers. Analysts say the IRS' practice is unfair and produces less money for the government than a more equitable system would.
U.S. employers added more jobs than expected in April
Friday, May 05, 2023
U.S. employers added 253,000 jobs in April — more than forecasters were expecting. The unemployment rate dipped to 3.4%, matching the lowest level in more than half a century.
In a surprise, the job market grew strongly in April despite high interest rates
Friday, May 05, 2023
The U.S. job market may be getting a second wind. Employers added 253,000 jobs in April, a modest uptick from the month before. The unemployment rate dipped to 3.4%.
U.S. employers added 253,000 jobs in April, Labor Department reports
Friday, May 05, 2023
The jobs figure is significantly higher than most forecasters expected. But the outlook for the labor market remains uncertain due to banking turmoil and rising interest rates.
The Fed raises interest rates again in what could be its final attack on inflation
Wednesday, May 03, 2023
The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.
The Federal Reserve's battle against inflation may be close to a turning point
Wednesday, May 03, 2023
The Fed is expected to raise interest rates Wednesday for the tenth time in 14 months. While inflation is still well above the Fed's target, forecasters think this could be the last hike for a while.
The U.S. could run out of cash to pay its bills by June 1, Yellen warns Congress
Monday, May 01, 2023
Treasury Secretary Janet Yellen warned lawmakers that unless the debt ceiling is raised soon, the federal government may not have enough money to pay its bills as early as June 1.
A new report assesses last month's bank failures and includes lessons for the future
Friday, April 28, 2023
The Federal Reserve and the FDIC reported on lessons learned from March's bank failures, including lapses in government oversight and ideas on how to prevent similar meltdowns going forward.
The Fed admits some of the blame for Silicon Valley Bank's failure in scathing report
Friday, April 28, 2023
The Federal Reserve says its own light-touch approach to bank regulation is partly to blame for the collapse of Silicon Valley Bank last month, and it promised more vigorous oversight in the future.
Economic growth slowed the first three months of the year
Thursday, April 27, 2023
Economic growth slowed in the first three months of 2023. The Commerce Department said that gross domestic product grew at an annual rate of 1.1% in the first quarter — down from 2.6% in late 2022.
What went wrong at Silicon Valley Bank? The Fed is set to release a postmortem report
Thursday, April 27, 2023
The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession.
The U.S. economy is losing steam. Bank woes and other hurdles are to blame.
Thursday, April 27, 2023
The country's GDP growth is slowing as banks cut back on credit and the Federal Reserve tries to crack down on inflation.
To raise debt ceiling, House GOP wants new work requirements for safety net programs
Thursday, April 20, 2023
House Republicans want to add new work requirements to safety net programs, in exchange for raising the debt ceiling. Critics say that would increase hardship without doing much to boost employment.