U.S. Treasury

American Rescue Plan

AP: States and cities slow to spend federal pandemic money

As Congress considered a massive COVID-19 relief package earlier this year, hundreds of mayors from across the U.S. pleaded for “immediate action” on billions of dollars targeted to shore up their finances and revive their communities. Now that they’ve received it, local officials are taking their time before actually spending the windfall. As of this

Financial

Awaiting Yellen at Treasury: Yet another daunting crisis

Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden’s apparent choice for treasury secretary, served on the Federal Reserve’s policymaking committee during the 2008-2009 financial crisis that nearly toppled the banking system. She became Fed chair in 2014 when the

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