President Barack Obama supports an effort by congressional Democrats to raise the federal minimum wage to about $10 an hour, higher than the rate he called for earlier this year, according to a White House official.
White House budget director Sylvia Mathews Burwell learned her management skills from some of the masters: former President Bill Clinton, Microsoft Corp. Chairman Bill Gates, and onetime Treasury Secretary Robert Rubin.
The partial government shutdown this month trimmed 0.25 percentage point from fourth-quarter economic growth and cost the U.S. 120,000 jobs in October, President Barack Obama’s chief economic adviser said.
Treasury 10-year note yields traded at almost a three-month low as signs of a loss of momentum in global economic growth stoked bets the Federal Reserve will delay slowing its stimulus program until next year.
House Republican leaders are presenting their members with a proposal to raise the debt limit for six weeks without policy conditions, said a congressional aide familiar with the details. The move would lessen the risk of a U.S. default one week from a lapse in borrowing authority.