Month: June 2022

Collections are poised to reach $2.6 trillion in the fiscal year that ends Sept. 30, which would mark a record in the 109-year history of the tax. The size and speed of the increase has surprised even the nation’s fiscal-policy experts.

The economy extended a yearlong streak of strong gains in May. The jobless rate remained at 3.6%.

Treasury Secretary Janet Yellen denied that she had tried to cut the size of the $1.9 trillion relief plan Democrats approved in 2021.

Abbott Laboratories plans to resume production at its Sturgis, Mich., plant on Saturday, but initial production runs will include only specialty formulas.

It would be difficult for Russia to overcome the loss of western technology and capital, noting that other once-large oil producers have seen output fall after sanctions, Mike Wirth said.

Prices fell so hard during the subprime crisis or climbed back so gradually in more than 400 cities that the current buying wave is only beginning to make even a homeowner who bought there during the last boom.

One of the world’s most powerful executives became increasingly burned out and disconnected from the mega-business she was instrumental in building. That dovetailed with a company investigation into her activities.

The electric-truck startup, which ranked among the world’s most valuable auto makers several months ago, is struggling to master the nuts and bolts of production. “We know this is hard.”

A long stretch of universal strength is giving way to a muddled outlook on labor, markets and consumer spending: “Brace yourself.”