Backlash against IRS hiring practices follows criticism alleging that tens of thousands of new agents will be hired and go after poorer Americans.
A White House blog says recession is too narrowly defined, just as latest GDP figures are about to land. Some saw the post as an attempt to muddy the waters.
"You share responsibility for the innocent lives lost and the ongoing human and economic toll that the war is causing around the world," Treasury Secretary Janet Yellen said.
A report of sanctions on Russian individuals and defense manufacturers not being punitive enough follows new worldwide sanctions imposed this week.
While gas prices are predicted to dip in the next few months, the current national average is still around $5 a gallon.
The treasury secretary, however, said that she doesn't believe that a recession is "inevitable" on Sunday.
Larry Summers noted Sunday that periods of high inflation and low unemployment are "almost always" followed by a recession.
Biden spent the week pushing an optimistic message on the U.S. economy, but his detractors are warning Americans: "You better brace yourself."
It marked a reversal from her remarks a year ago, when she described inflation as a "small risk" and manageable.
Treasury Secretary Janet Yellen said that financial regulators would soon release a report on the risks of cryptocurrency and other digital assets.
The treasury secretary offered her strongest remarks yet as China showed no signs of moving away from Russia, 50 days into its invasion of Ukraine.
Treasury Secretary Janet Yellen said her department plans to "uncover, freeze and seize" the wealth of Russian oligarchs who support Vladimir Putin.
"Inflation is clearly a great concern to Americans, and it really needs to be addressed," Yellen said. "It's not acceptable to stay at current levels."
Treasury Secretary Janet Yellen referred to the American Rescue Plan as "the biggest investment we've made since Eisenhower built the Interstate."
The report cited several ways in which the issue could impact the economy, including possible loan losses after natural disasters like floods and fires.
Vice President Kamala Harris and Treasury Secretary Janet Yellen announced the funds to be distributed to over 180 financial institutions across 36 states.
Tuesday's vote comes just one day before Treasury Secretary Janet Yellen warned that the U.S. would hit its current debt limit and face a potentially catastrophic default.
Jerome Powell told a House committee Wednesday it's not possible to be sure when inflation will improve, but the pandemic fading would make it more likely.
Yellen told lawmakers in a letter that her newest deadline of December 15 came after the enactment of President Joe Biden's $1 trillion infrastructure bill.
After months of defense rhetoric on rising inflation, the White House is now candidly acknowledging the worsening economic issue that has cursed Biden's presidency.
Treasury Secretary Jenet Yellen warned a debt default would be catastrophic could push the country into a recession.
The House Speaker said Sunday a tax on billionaires' unrealized capital gains "doesn't produce that much money."
Credit Unions said the proposal, designed to help tackle tax fraud, "would impact almost every American and small business."
The Treasury Secretary told CBS the proposal, aimed at billionaires, would increase tax revenues.
Treasury Secretary Janet Yellen said a report alleging World Bank officials had changed business rankings for China "raised legitimate issues and concerns."
The agreement to establish a minimum corporate tax rate is expected to deter large multinational companies from moving their profits offshore.
"It gives us some breathing room from the catastrophic default we were approaching," White House spokesperson Karine Jean-Pierre told reporters.