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The Biden administration Wednesday announced its plans to extend the deadline for student borrowers to pause on federal loan repayments, interest and collections until Aug. 31, and also provides a “fresh start” on loan repayments by removing any prior defaults. Read more»

The Fed has come under some fire for not taking an aggressive stance toward inflation earlier.

Citing massive inflation and the invasion by Ukraine by Russia, the Federal Reserve raised interest rates Wednesday for the first time in three years while also predicting more rate hikes to come. Read more»

American employers added 467,000 jobs in January, a sign the U.S. economy held steady during a surge in coronavirus infections driven by the highly contagious omicron variant. Read more»

As the U.S. economy ended 2021 with a lot of uncertainty, three economists highlight inflation, workforce participation and real wages as key indicators they’ll be following closely in the new year to better understand how the economy is doing. Read more»

Balloons and streamers fly following the Arizona State University’s W. P. Carey School of Business Convocation ceremony at Wells Fargo Arena on Dec. 14, 2015.

Congressional Democrats are urging the White House to extend the freeze on student loan repayments, and for the president to cancel up to $50,000 of student debt — but so far the administration is not budging. Read more»

Used car and truck prices are up 31% over the previous year.

Consumer prices jumped 6.8% in November 2021 from a year earlier – the fastest rate of increase since 1982 – and an economist explains what’s driving the recent increase in inflation and how it affects consumers, companies and the economy. Read more»

Inflation is one of the challenges facing retailers and customers as the holiday shopping season slides into high gear.

Wages are high, jobs are plentiful and more than a third of states cut taxes in the past year as their revenues soared - yet the highest inflation spike in three decades has many policymakers digging for ways to ease the strain on families’ pocketbooks. Read more»

Jerome Powell's time on Wall Street – and now as Fed chairman – has seen multiple scandals. We can't afford to give another term to someone who tips the scales for the wealthy in a system he is supposed to balance. President Biden cannot renominate him. — Sunnyside boardmember Consuelo Hernandez Read more»

Climate change is producing record fires, floods, and countless natural disasters that are destroying homes, cities, and communities. As the nation’s central bank, the Federal Reserve could help mitigate this damage: it could divest from pollutants and encourage the development of clean technologies. Chairman Powell has refused to do so, instead of using our banking system to back fossil fuels and perpetuate the climate crisis. — State Sen. Sally Ann Gonzales Read more»

The Fed’s policies have helped generate jobs and reduce unemployment, which was their goal. In the process, however, the Fed has accelerated the decades-long increase in economic inequality by helping increase the wealth of people at the top far more than it has increased the wealth of working-class Americans.

The Fed’s low-interest-rate policies have stabilized the economy and turbocharged the stock market but those policies have accelerated the decades-long increase in economic inequality by helping increase the wealth of people at the top far more than it has increased the wealth of working-class Americans. Read more»

Congress on Monday night approved the first major COVID-19 relief measure since the spring, a sprawling spending bill that would provide $900 billion in pandemic-related aid but still didn't go far enough for many Democrats. Read more»

U.S. Sen. Martha McSally speaks at a rally for President Donald Trump in Mesa, October 2018.

National Republicans are hitting Democratic Senate hopeful Mark Kelly over investments in the business he co-founded from a major Chinese business, but incumbent Sen. Martha McSally also had investments tied to Chinese companies. Read more»

The Mayo Clinic in Arizona has received a $29.6 million grant from the CARES Act, the COVID-19 aid package approved by Congress last month.

Businesses headquartered in Arizona have received roughly $489 million from the CARES Act, a $2 billion COVID-19 aid package approved by Congress last month. Read more»

The U.S. Department of Labor reported 6.6 million people applied for unemployment insurance benefits over the last week—roughly 2% of the country’s population.

The U.S. Department of Labor reported 6.6 million people applied for unemployment insurance benefits over the last week—roughly 2% of the country’s population. Read more»

Federal Reserve Building, Washington, D.C.

The Federal Reserve announced Monday it would take supportive measures, including expanding bond-purchasing programs, to boost credit access for American families and businesses. Read more»

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