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  • Figures on government spending and debt Friday, 22 May 2015 | 4:08 PM ET

    WASHINGTON— Figures on government spending and debt.

  • WASHINGTON— The White House says "offensive and disgusting" replies posted on President Barack Obama's new Twitter account are part of an open society. But spokesman Josh Earnest says the bile flooding Obama's@ POTUS account is worth the price of engaging the public on issues they care about. "POTUS" is an acronym for "President of the United States."

  • WASHINGTON, May 22- Rising shelter and medical care costs boosted underlying U.S. inflation pressures in April, a welcome sign for the Federal Reserve as it contemplates raising interest rates this year. "It will give the Fed greater confidence that inflation will indeed make it to its target in the next couple of years, it increases the odds of faster Fed action,"...

  • WASHINGTON— Federal Reserve Chair Janet Yellen said Friday she expects to begin raising interest rates later this year— if the job market improves and the Fed is confident inflation will climb closer toward its target rate. The Fed has kept its key benchmark rate at a record low near zero since December 2008. "I think it will be appropriate at some point this year to...

  • WASHINGTON, May 22- A U.S. federal appeals court on Friday ruled that tobacco companies cannot be forced to announce publicly that they deliberately deceived the public over the health risks of cigarettes. The U.S. Court of Appeals for the District of Columbia Circuit ruled against the manufacturers on several other issues as it considered a long-running...

  • WASHINGTON, May 22- Rising shelter and medical care costs boosted underlying U.S. inflation pressures in April, a welcome sign for the Federal Reserve as it contemplates raising interest rates this year. The Labor Department said on Friday its Consumer Price Index, excluding food and energy, increased 0.3 percent last month. "It will give the Fed greater...

  • WASHINGTON— America's largest tobacco companies must inform consumers that cigarettes were designed to increase addiction, but not that they lied to the public about the dangers of smoking, a federal appeals court ruled on Friday. The ruling from the U.S. Court of Appeals for the District of Columbia Circuit is a partial win for cigarette makers in the...

  • DENVER— Construction crews are returning to work at the veterans hospital outside Denver after a last-minute deal with congressional leaders avoided a shutdown of the half-finished project. Congress and the Veterans Affairs Department still must find up to $830 million to finish the vastly over-budget hospital without taking services away from...

  • NEW YORK, May 22- The U.S. Fed Chair Janet Yellen, who on Friday will talk about the economy's prospects, is expected to acknowledge the recent sluggishness, including near stagnant performance in the first few months of the year. Though the Fed uses another measure for its 2 percent target, the CPI report on Friday showed prices increasing across a broad set of items,...

  • WASHINGTON— Core consumer prices outside of food and energy posted the biggest increase in April in more than a year, suggesting that an improving U.S. economy is finally starting to lift prices. Overall consumer prices edged up 0.1 percent for the third straight climb, the Labor Department said Friday. Paul Ashcroft, chief U.S. economist at Capital Economics,...

  • Ahead of the Bell: US consumer prices Friday, 22 May 2015 | 6:21 AM ET

    WASHINGTON— The Labor Department reports on April consumer prices Friday at 8:30 a.m. Eastern. PRICE INCEASE: The expectation is that overall prices edged up a slight 0.1 percent, according to a survey of economists by data firm FactSet. Excluding volatile food and energy, it's believed that prices rose 0.2 percent.

  • China says work on charter for Asian bank completed Friday, 22 May 2015 | 4:41 AM ET

    Beijing's proposal for the Asian Infrastructure Investment Bank attracted unexpected widespread support from Western governments including Britain, New Zealand and France despite U.S. opposition. Other nations that have expressed interest in joining include India, Germany and Thailand. Beijing has pledged to put up most of its initial $50 billion in...

  • WASHINGTON, May 22- There were no fancy economic models or forecasts when former Florida Governor Jeb Bush first tossed out the idea that 4 percent annual growth should be the overarching goal for the U.S. economy. But what started as a casual suggestion during a 2010 conference call with advisers to the George W. Bush Institute, a public policy center in Dallas, has...

  • WASHINGTON— The Senate struggled to reach agreement Friday on how to change the way the National Security Agency handles American calling records, setting the stage for a halt to the collection program and two less-controversial surveillance programs designed to track spies and terrorists. With the House already gone for a 10- day Memorial Day break, the...

  • WASHINGTON, May 21- The U.S. Export-Import Bank moved a step closer to avoiding closure on Thursday as Senate Republican Leader Mitch McConnell agreed to hold a vote on renewing its charter in June. The decision gives Congress a legislative vehicle to start considering the fate of the federal export credit lender, with conservative House of Representatives...

  • House lawmaker issues subpoena to Fed in leak probe Thursday, 21 May 2015 | 6:40 PM ET

    Jeb Hensarling, the Texas Republican who heads the House Financial Services Committee, announced Thursday he had issued a subpoena to the Fed. The Fed inspector general, which is an independent watchdog, and the Justice Department have been investigating the matter. Fed Chair Janet Yellen disclosed earlier this month that she met once in 2012 with Regina...

  • NEW YORK, May 21- The U.S. Fed Chair Janet Yellen, who on Friday will talk about the economy's prospects, is expected to acknowledge the recent sluggishness, including near stagnant performance in the first few months of the year. "I wouldn't be totally shocked if the Fed 25 basis points either in September or December, and then just held there for a while to see what...

  • IRETON, IOWA/ CHICAGO, May 21- Measures to control the worst bird flu outbreak in U.S. history are not being enforced at several farms at its epicenter in northwestern Iowa, potentially increasing the risks that the disease could spread further, spot checks by Reuters show. In visits to six affected sites in Iowa last week, a Reuters reporter found procedures at...

  • U.S. Senate Democrats press for Amtrak funding increase Thursday, 21 May 2015 | 4:44 PM ET

    One day after an Amtrak train derailed on May 12 near Philadelphia, killing eight passengers, the Republican-controlled House Appropriations Committee approved a $1.14 billion Amtrak budget, a $252 million cut from fiscal 2015.. "Philadelphia was preventable and it was predictable," Senator Richard Blumenthal of Connecticut said at a news conference.

  • Figures on government spending and debt Thursday, 21 May 2015 | 4:06 PM ET

    WASHINGTON— Figures on government spending and debt.