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Consumer prices jumped last month as businesses struggled to keep pace with booming demand, but the Biden administration and the Federal Reserve say the uptick in inflation is likely to be temporary.
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The Treasury secretary is adding her support to a widely discussed proposal as part of the Biden administration's tougher approach to corporate taxes.
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Jerome Powell and Treasury Secretary Janet Yellen will tell Congress the economy is recovering but that more needs to be done to get to pre-pandemic levels
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Meanwhile, the unemployment rate dipped to 6.2% last month as the winter wave of coronavirus infections eased.
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In dozens of local TV interviews, Zoom meetings and conference calls, the Biden administration is trying to build support for its $1.9 trillion COVID-19 relief package.