Composite image of $100 bills and Rep. Alexandria Ocasio-Cortez

Can the US Make Money Out of Thin Air Like AOC Says?

French philosopher Voltaire famously quipped: “If God did not exist, it would be necessary to invent him.” Something similar can be said of modern monetary theory, also known as MMT, because it may be the economy’s only hope to get through the pandemic. ...

Powell Sees Cooler US Hiring in Possible Hint of Rate Cuts

WASHINGTON — Federal Reserve Chairman Jerome Powell said Tuesday that U.S. job growth since early last year was not as robust as thought, a hint that the Fed may be ready to keep cutting interest rates to support the economy. Powell also said the Fed will s...
Photo of a For Rent sign

Gov. Newsom Gets Bill Capping Rent Increases

SACRAMENTO — Lawmakers sent Gov. Gavin Newsom legislation Wednesday capping rent increases as the state struggles with an affordable housing and a homelessness crisis. The cap expires in 2030 and would not apply to housing built within the last 15 years and...
Photo of Jerome Powell

Fed Cuts Key Rate in Its First Reduction in More Than Decade

WASHINGTON — The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter threats ranging from uncertainties caused by President Donald Trump's trade wars to chronically low inflation and a dim global outlook. The...