IRS Official Resigns, But Investigations Won't End
The acting commissioner for the IRS, Steven Miller, has resigned, but don't look for the outcry over the agency's improper targeting of tea party groups to subside.
Treasury
Lower Deficit Predictions May Hamper U.S. Budget Deal
The recovering economy is producing greater tax revenues, but an improving deficit picture also reflects the accumulating effects of prior rounds of spending cuts.
Bloomberg Probed Over Reporters' Access to Client Data
Bloomberg customers were examining whether there could have been leaks of confidential information, even as the media company restricted its reporters' access to client data.
Treasury Reports Rare $113B Surplus in April
The U.S. Treasury said Friday that it took in a rare surplus of $113 billion in April, the largest in five years.
Bernanke: Fed Increasing Oversight Beyond Banks
The Fed has broadened its oversight beyond banks and now monitors a wide-range of financial institutions that could hasten another crisis, Chairman Ben Bernanke said Friday.
Fannie Mae Posts Record $60B Quarterly Profit
Mortgage-backer Fannie Mae will pay a dividend of $59.4 billion to the U.S. Treasury next month, a feat thought unthinkable just a few years ago following a federal bailout.
Freddie Mac Posts Near-Record Profit in First Quarter
Mortgage giant Freddie Mac earned $4.6 billion from January through March, helped by a stronger housing market.
Strong Housing and Auto Sales Boost U.S. Economy, Fed Says
A strengthening housing recovery and robust auto sales contributed to moderate growth across the U.S. in late February and March, according to a Federal Reserve survey.
Lew Calls on Trade-Surplus Nations to Bolster Consumer Demand
Speaking in Berlin, U.S. Treasury Secretary Jack Lew on Tuesday urged countries with a trade surplus to introduce policies to help domestic consumption.
Treasury OK'd Beyonce and Jay-Z's Cuba Trip, Source Says
American pop star Beyonce and rapper husband Jay Z visited Havana last week on a cultural trip that was fully licensed by the United States Treasury Department, a source says.
Stock Market Gains, Economic Recovery Boost U.S. Dollar
Investors are showing more interest in the dollar, which is benefiting from the stock market's surge to new highs and an improving U.S. economy.
The Great Geithner: Ex-Treasury Secretary Gets Bailout Book Deal
The former Treasury Secretary has an agreement with Crown Publishers, an imprint of Random House, Inc. Crown announced Thursday that Geithner's book, currently untitled, is scheduled for 2014 and will provide a "behind-the-scenes" account of the financial crisis.
Lew Set to Start at Treasury As Budget Cuts Loom
The Senate confirmed Jacob Lew as Treasury Secretary late Wednesday, affirming President Barack Obama's choice of a budget expert at a time when Congress and the White House are at odds over spending and taxes.
Senate Confirms Jacob Lew as Treasury Secretary
The Senate confirmed Jacob Lew to be Treasury secretary, affirming President Barack Obama's choice of a budget expert at a time when Congress and the White House are at odds over sharp government spending cuts. Lew had most recently served as Obama's chief of staff.
Suddenly, Bonds are Riskier than Stocks
Bonds have outperformed stocks over the last 30-year period, but things are changing and bonds are no longer the safe haven they once were. In fact, bonds already look overvalued, and if rock-bottom interest rates keep moving higher, bond funds could plunge.