Congress wants answers on why the IRS targeted conservative groups, two senior politicians tell CNBC.» Read More
Energy Secretary Steven Chu, the Nobel-winning physicist who survived the uproar after the solar energy company Solyndra went bankrupt, is stepping down.
The Democratic-led Senate on Thursday approved must-do legislation to permit the government to borrow hundreds of billions of dollars more to meet its obligations, putting off one Washington showdown even as others loom in coming weeks.
"The report, noisy as it is, may help ease ideas that has surfaced earlier this month that the Fed may look to soon pull back from its asset purchases," said one strategist in response the surprise drop in GDP.
Traders are bracing for the "Super Bowl" of economic data in the week ahead and wondering: Will the bulls keep running or lose the big game?
Early returns from the earnings season suggest that investors are slowly starting to buy into the scenario that better days lie ahead, unwinding some trades put on at the apex of market pessimism.
President Obama has chosen longtime adviser and national security expert Denis McDonough as White House chief of staff.
Republican governors are moving to cut income taxes, including proposals that would increase reliance on state sales taxes, setting up ambitious experiments in tax reform that could shape what is possible on a national level.
To many, Geithner deserves credit for helping steady the banking system and helping restore investor confidence. Yet his toughest critics say his policies consistently favored big banks over struggling Americans.
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With tacit support from President Barack Obama, the GOP-controlled House approved an extension of the debt ceiling Wednesday, heading off an economy-rattling fiscal crisis for at least four months.
It looks like 2013 is going to be a "lower growth environment," DuPont CEO Ellen Kullman told CNBC, but she cited two areas of expected strength this year.
House Republican leaders have scheduled a vote on Wednesday on a nearly four-month extension of U.S. borrowing capacity.
A flood of earnings reports, including major technology and industrial companies, could make or break the stock market’s surprise January rally in the week ahead.
President Barack Obama approaches his second inauguration amid persistent public resignation about the tepid economic recovery, and a widespread belief that Washington's budget fights have made things worse, the latest NBC/WSJ poll says.
House Republicans may seek a short-term extension of the government's debt limit as the party seeks to maximize leverage in negotiations over spending cuts.
As Washington politicians bicker about raising the debt ceiling and making a meaningful attempt to curb the country's deficit, the economy is suffering, Loews CEO James Tisch told CNBC.
While the stigma of a U.S. debt default would be damaging to investor sentiment, the chaos from a breakdown in financial markets' systems that might result would be even scarier.
In a departure from recent times, the Davos gathering will be dominated by the U.S. fiscal crisis rather than Europe's.
While Washington bickers over how to balance the budget, the governor of Utah said Congress should pay attention to his state because he is "doing it right."
Only Congress has the right and the responsibility under the Constitution to authorize borrowing.
The House is ready to pass legislation that links college student loan rates to the financial markets.
The House of Representatives approved a bill as expected on Wednesday to force approval of Keystone XL oil pipeline.
The Fed could begin slowing its efforts to maintain record-low long-term interest rates as early as summer.