economic downturn

WATCH: Biden enlists CEOs to warn of default if federal debt limit is not raised

By Lisa Mascaro, Kevin Freking, Josh Boak, Associated Press

Biden hosted business leaders at the White House on Wednesday and is warning that failure to extend the government's borrowing authority could set off a global financial crisis.

WATCH: Secretary Yellen, Chairman Powell testify on pandemic recovery

By Chris Rugaber, Associated Press

Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are expected to testify at a hearing on Tuesday on the state of the nation's pandemic recovery.

Fed survey finds growth ‘downshifted’ in summer due to COVID

By Martin Crutsinger, Associated Press

The Fed survey, released Wednesday, said the slowdown was largely attributable to a pullback in dining out, travel and tourism in most parts of the country, reflecting concerns about the spread of the delta variant.

Yellen briefs Democrats amid calls for new ban on evictions

By Josh Boak, Lisa Mascaro, Associated Press

Treasury Secretary Janet Yellen has briefed House Democrats on the administration’s efforts to prevent widespread housing evictions after a moratorium lapsed.

EU approves 191.5 billion euros in recovery funds for Italy

By Associated Press

The Commission's approval of the plan to help relaunch the Italian economy after the pandemic on Tuesday is an important step toward the distribution of funds for Italy's vast reform and investment plan.

WATCH: Federal Reserve Chair Powell says high inflation temporary, will ‘wane’

By Christopher Rugaber, Associated Press

Federal Reserve Chair Jerome Powell on Tuesday responded to concerns from Republican lawmakers about spiking inflation by reiterating his view that current price increases will likely prove temporary.

California weighs extending eviction protections past June

By Adam Beam, Associated Press

California Governor Gavin Newsom and lawmakers are negotiating whether to extend the state's ban on evictions for unpaid rent.

USDA sending $1 billion in funding to country’s food bank networks

By Ashraf Khalil, Associated Press

The Department of Agriculture is sending $1 billion to the country's food bank networks, seeking to expand the reach of the system and revamp the way food banks acquire and distribute aid.

WATCH: Biden touts new May jobs report

By Associated Press

His comments came Friday after the latest report showed U.S. employers added 559,000 jobs in May, according to the Labor Department.

Lebanese leaders exchange barbs as country sinks into crisis

By Sarah El Deeb, Associated Press

Lebanon's president and prime minister-designate have traded barbs, escalating a war of words that has for months obstructed the formation of a new government in a country hit by a devastating economic and financial crisis.