Scott Horsley

Retail spending rebounded strongly last month after three months of decline. The jump was fueled partly by $600 federal relief payments, which hit people's bank accounts at the beginning of the month.

As impeachment fades into the rearview mirror, lawmakers will be focused on President Biden's proposed $1.9 trillion economic rescue package. Economists are debating that level of federal spending.

Congressional forecasters expect the federal deficit will hit the second largest in decades, even without factoring in President Biden's proposed $1.9 trillion coronavirus relief plan.

Black-owned businesses were often at the back of the line when the first coronavirus relief loans were doled out. Now, some are turning to banks that specialize in minority firms for help.

Black-owned businesses were among the last to receive paycheck protection loans last year. Now, some businesses are turning to banks that specialize in working with Black and brown customers.

President Biden's nominee to head the White House budget office pushed for Biden's economic relief package and apologized for insults against Republican senators during her confirmation hearing.

President Biden's pick to lead the Office of Management and Budget apologized for previously insulting Republicans and promised to work in a bipartisan manner if confirmed.

A lackluster jobs report from the Labor Department on Friday increases the pressure on policymakers to offer additional economic aid. Without additional help, a full jobs recovery could be years away.

U.S. employers added 49,000 jobs last month, after a pandemic-driven slump in December. Unemployment fell to 6.3%.

The Commerce Department says the U.S. economy grew just 1% in the last three months of the year, as a rise in coronavirus infections weighed on in-person businesses like restaurants.

The U.S. economy is likely to have slowed in the last three months of the year, ending 2020 smaller than it began. But for some companies, business is now back to pre-pandemic levels.

Janet Yellen, who was sworn in as Treasury secretary on Tuesday, is urging lawmakers to "act big" in response to the pandemic. But some Republican lawmakers are balking at increased government debt.

As drug overdose deaths rise during the pandemic, a former White House economist says social isolation could be partly to blame.

Janet Yellen was confirmed by the Senate to serve as Treasury secretary. She'll be the first woman to hold that post and will lead the Biden administration's efforts to address the pandemic recession.

President Biden has outlined an aggressive plan to gain control over the coronavirus pandemic, which continues to weigh heavily on the U.S. economy.

President Biden is pushing Congress to pour another $1.9 trillion into the COVID-ravaged economy. In the meantime, his top economic adviser says, he plans to bump up food stamp benefits.

New claims for state unemployment benefits dipped last week but remained high, showcasing the economic challenges facing President Biden.

At her confirmation hearing Tuesday, Treasury Secretary-designate Janet Yellen warned that without more federal help, the recession would last longer and be more painful than necessary.

President-elect Joe Biden is proposing a $1.9 trillion plan to address the coronavirus pandemic and the resulting economic crisis.

The runaway pandemic put more pressure on the U.S. job market last month. Employers shed 140,000 jobs as the unemployment rate held steady at 6.7%.