The New York Fed Chief Is Facing His Biggest Test. Here’s His Response.

The New York Fed Chief Is Facing His Biggest Test. Here’s His Response.

The approach requires the Fed to hang on to large holdings of government-backed bonds to keep reserves, essentially currency deposits at the Fed, plentiful. Central bankers had thought that they had a long way to go before reserves became scarce. So until last month, they were shrinking their balance sheet …

Who Succeeds Mark Carney? Brexit Brings Uncertainty to the Bank of England

Who Succeeds Mark Carney? Brexit Brings Uncertainty to the Bank of England

The British government is hiring. Requirements: A candidate who can keep markets calm, put up with criticism from politicians and deftly respond to an unprecedented economic event as Britain tears itself away from the European Union, while the rest of the world economy stutters. Send applications to: Unknown.The person who …

This Week in Business: The Economics of Impeachment

This Week in Business: The Economics of Impeachment

It’s tough to say who had a worse week — President Trump, WeWork or the vaping industry. (O.K., it’s pretty obvious — here’s a handy guide to the impeachment process, should you be curious.) Vegans, on the other hand, should be delighted. To find out why, read on. ImageCreditGiacomo BagnaraWhat’s …

The White-Collar Job Apocalypse That Didn’t Happen

The White-Collar Job Apocalypse That Didn’t Happen

“I can share my screen with them, but I can’t, in real time, sit with them while they’re making the mistakes and show them where they’re making the mistakes,” he said.Mr. Kincaid’s current employer, Nexient, develops software for companies on a contract basis — work that is a prime candidate …

Eugene Scalia Confirmed by Senate as Labor Secretary

Eugene Scalia Confirmed by Senate as Labor Secretary

The Senate on Thursday confirmed Eugene Scalia, a longtime lawyer representing corporations, to be labor secretary.Mr. Scalia, a son of the late Supreme Court justice Antonin Scalia, was chosen by President Trump in July,days after Mr. Trump’s first labor secretary, R. Alexander Acosta, announced that he would resign.The Senate confirmed …

Jacques Chirac, French President Who Championed European Identity, Is Dead at 86

Jacques Chirac, French President Who Championed European Identity, Is Dead at 86

Jacques Chirac, who molded the legacy of Charles de Gaulle into a personal power base that made him one of the dominant leaders of France across three decades and a vocal advocate of European unity, died on Thursday. He was 86.His death was confirmed by the Fondation Chirac in Paris.Mr. …

U.S. Threat to Withdraw From Postal Treaty Prompts Emergency Talks

U.S. Threat to Withdraw From Postal Treaty Prompts Emergency Talks

GENEVA — Emergency talks began on Tuesday as delegates from nearly 150 countries tried to prevent a massive disruption to international postal services that could occur if President Trump pulls America out of a United Nations body that has regulated mail services for more than a century.The United States has …

Overtime Pay Eligibility Is Widened in New Federal Rule

Overtime Pay Eligibility Is Widened in New Federal Rule

The Labor Department on Tuesday announced that it had finalized a rule expanding overtime pay eligibility to up to 1.3 million workers.Under the new rule, most salaried workers who earn less than about $35,500 per year will be eligible for time-and-a-half overtime pay, up from the current threshold of about …

Democrats Want to Tax the Rich. Here’s How Those Plans Would Work (or Not).

Democrats Want to Tax the Rich. Here’s How Those Plans Would Work (or Not).

Among Democratic presidential candidates, it’s the rallying cry of the moment — tax the rich. The idea is a centerpiece of the campaigns of Senator Elizabeth Warren and Senator Bernie Sanders. A former candidate, Mayor Bill de Blasio of New York, went so far as to say the government ought …