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Changes to the Tax Code President Trump signed the Tax Cuts and Jobs Act (TCJA) into law on Dec. 22., 2017, bringing sweeping changes to the tax code. How people feel about the $1.5+ trillion overhauls depend largely on their opinion of Trump's presidency. Individually, how the changes were felt...

As the presidential candidate known to have a sweeping plan for everything, Sen. Elizabeth Warren's favorite and most overused phrase is "big, structural change." "Our country is in a time of crisis—the time for small ideas is over," she said emphatically at a podium in June at the California...

"A war on seniors." "Mediscare." "A Bitter Day." With President Donald Trump's appointment of Tom Price for Health and Human Services (HHS) secretary in 2017, many Americans have become concerned about the future of Medicare, the federal government program that provides healthcare to 48 million...

It's fair to say Joe Biden's electability has been discussed more than his policies. The president-elect is defined by what he is not—radical or revolutionary—and was seen by many Democrats as the candidate best suited to challenge President Trump in today's deeply polarized political landscape...

The term “Green New Deal” was first used by Pulitzer Prize-winner Thomas Friedman in January 2007. America had just experienced its hottest year on record (there have been five hotter since), and Friedman recognized that there wasn’t going to be a palatable, easy solution to climate change as...

Current Fed Chairman Jerome Powell took over the role of chairman on February 5, 2018. He was nominated by President Trump in November 2017. Powell was previously a partner at The Carlyle Group, a private investment firm, and served as an Assistant Secretary and Undersecretary of the Treasury...

Early Days of the Republic The first president to have multiple vice presidents was Thomas Jefferson, who served two terms in office beginning in 1801. This was not Jefferson's preference, but the Constitution originally did not require separate votes for the two offices and specified that the...

On Nov 7, 2020, after multiple days spent counting ballots in key swing states, the Associate Press called the 2020 election for Joe Biden over incumbent President Donald Trump.1 Even though Donald Trump has yet to accept his defeat, he has some time to get used to it. President-elect Joe Biden...

Presidents get a lot of the blame, and take a lot of the credit, for the performance of the stock market while they are in office. However, the truth is that the president's ability to impact the economy and markets is generally indirect and marginal. It's Congress that sets tax rates, passes...

President Barack Obama nominated Janet Louise Yellen on Oct. 9, 2013, to become the chair of the Federal Reserve Board.1 She succeeded Ben Bernanke and was scheduled to remain a board member until 2024. Yellen was tasked with keeping the gradual recovery of the economy on track. Obama called...

Other names that were considered for the role include former Federal Reserve Vice Chair Roger Ferguson, Federal Reserve Gov. Lael Brainard, and Ariel Investments Co-CEO Mellody Hobson.2 If confirmed by the Senate, Yellen would be the first woman to hold the job. She would play a leading role in...

Indexes first became popular with the Dow Jones Industrial Average (DJIA), which was created by Charles Dow in 1896. The DJIA was the second stock index, created after the Dow Jones Transportation Average. The DJIA became a crucial tool for tracking the strength of the broader economy. Since...

What Is the Dow Jones Industrial Index? The Down Jones Industrial Index is a list, or index, of companies considered to be good indicators of the stock market's overall strength. Simply put, these companies are a barometer of the market: when they do well, the economy is doing well, and vice...

The Dow Jones and the Broader Market In the United States, there are three major indicators, or indexes, of market movements: the Nasdaq Composite, the Dow Jones Industrial Average (DJIA or "the Dow"), and the Standard & Poor's 500 (S&P 500). Collectively, these market indexes are referred to...

In a recovery rally that has defied a global health pandemic and a nasty recession, the Dow Jones Industrial Average topped 30,000 for the first time as investors bet on a strong economic recovery. The milestone is even more significant given the depths of the stock market's plunge in late March...

The Fed Balance Sheet Just like any other balance sheet, the Fed's balance sheet consists of assets and liabilities. Every Thursday, the Fed issues its weekly H.4.1 report, which provides a consolidated statement of the condition of all the Federal Reserve banks, in terms of their assets and...

How the U.S. Government Impacts the Economy The U.S. government has always played a role in the economic affairs of the nation. Over the course of its history, many services began to come under the influence or direct control of the public sector. During some periods in U.S. history, however, it...

The Fed as Quasi-Governmental The monetary decisions of the Federal Reserve do not have to be ratified by the President (or anyone else in the Executive Branch). The Fed receives no funding from Congress, and the members of the Board of Governors, who are appointed, serve 14-year terms. These...

1:59 Fiscal Deficit Fiscal Deficit Impact on the Economy Economists and policy analysts disagree about the impact of fiscal deficits on the economy. Some, such as Nobel laureate Paul Krugman, suggest that the government does not spend enough money and that the sluggish recovery from the Great...

The Role of the Federal Open Market Committee The Federal Open Market Committee (FOMC) sets monetary policy in the United States, with a dual mandate of achieving full employment and controlling inflation. The committee meets eight times a year to set policy, essentially determining whether to...